Consolidated Statements of Comprehensive Income - USD ($) $ in Millions |
12 Months Ended | ||
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Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
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| Statement of Comprehensive Income [Abstract] | |||
| Net earnings including noncontrolling interest | $ 1,209.2 | $ 3,614.2 | $ 1,634.9 |
| Other comprehensive income (loss), net of tax | |||
| Foreign currency translation gain (loss), net of tax (expense) benefit | 154.1 | (255.0) | (108.2) |
| Net actuarial gain (loss) and prior service cost, net of tax (expense) benefit | 20.1 | 19.7 | 36.9 |
| Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax | 1.4 | 1.5 | 1.5 |
| Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax | 23.7 | (24.8) | (17.6) |
| Other comprehensive income (loss) | 199.3 | (258.6) | (87.4) |
| Comprehensive income | 1,408.5 | 3,355.6 | 1,547.5 |
| Less: Comprehensive income attributable to noncontrolling interest | 46.3 | 33.2 | 2.5 |
| Comprehensive income attributable to Mosaic | $ 1,362.2 | $ 3,322.4 | $ 1,545.0 |
Consolidated Balance Sheets (Parentheticals) - $ / shares |
Dec. 31, 2023 |
Dec. 31, 2022 |
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| Statement of Financial Position [Abstract] | ||
| Preferred stock, par value (in usd per share) | $ 0.01 | |
| Preferred stock, authorized (in shares) | 15,000,000 | |
| Common stock, par value (in usd per share) | $ 0.01 | |
| Common stock, authorized (in shares) | 1,000,000,000 | |
| Common stock, issued (in shares) | 393,875,241 | 391,964,464 |
| Common stock, outstanding (in shares) | 324,103,141 | 339,071,423 |
Consolidated Statements of Shareholders Equity (Parentheticals) - $ / shares |
12 Months Ended | ||
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Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
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| Statement of Stockholders' Equity [Abstract] | |||
| Dividends per share (in usd per share) | $ 0.85 | $ 0.60 | $ 0.30 |
Organization and Nature of Business |
12 Months Ended |
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Dec. 31, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Organization and Nature of Business | ORGANIZATION AND NATURE OF BUSINESS The Mosaic Company (“Mosaic,” and, with its consolidated subsidiaries, “we,” “us,” “our,” or the “Company”) produces and markets concentrated phosphate and potash crop nutrients. We conduct our business through wholly- and majority-owned subsidiaries and businesses in which we own less than a majority or a noncontrolling interest, including consolidated variable interest entities and investments accounted for by the equity method. We are organized into the following business segments: •Our Phosphates business segment owns and operates mines and production facilities in Florida which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, and processing plants in Louisiana which produce concentrated phosphate crop nutrients. We have a 75% economic interest in the Miski Mayo Phosphate Mine in Peru. These results are consolidated in the Phosphates segment. The Phosphates segment also includes our 25% interest in the Ma’aden Wa’ad Al Shamal Phosphate Company (the “MWSPC”), a joint venture to develop, own and operate integrated phosphate production facilities in the Kingdom of Saudi Arabia. We market approximately 25% of the MWSPC phosphate production. We recognize our equity in the net earnings or losses relating to MWSPC on a one-quarter lag in our Consolidated Statements of Earnings. •Our Potash business segment owns and operates potash mines and production facilities in Canada and the U.S. which produce potash-based crop nutrients, animal feed ingredients and industrial products. Potash sales include domestic and international sales. We are a member of Canpotex, Limited (“Canpotex”), an export association of Canadian potash producers through which we sell our Canadian potash outside the U.S. and Canada. •Our Mosaic Fertilizantes business segment includes five Brazilian phosphate rock mines, four phosphate chemical plants and a potash mine in Brazil. The segment also includes our distribution business in South America, which consists of sales offices, crop nutrient blending and bagging facilities, port terminals and warehouses in Brazil and Paraguay. We also have a majority interest in Fospar S.A., which owns and operates a single superphosphate granulation plant and a deep-water port and throughput warehouse terminal facility in Brazil. Intersegment eliminations, unrealized mark-to-market gains/losses on derivatives, debt expenses, and the results of the China and India distribution businesses are included within Corporate, Eliminations and Other.
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Significant Accounting Policies |
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| Accounting Policies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Accounting Policies | SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Statement Presentation and Basis of Consolidation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Throughout the Notes to Consolidated Financial Statements, amounts in tables are in millions of dollars except for per share data and as otherwise designated. The accompanying Consolidated Financial Statements include the accounts of Mosaic and its majority-owned subsidiaries. Certain investments in companies in which we do not have control but have the ability to exercise significant influence are accounted for by the equity method. Accounting Estimates Preparation of the Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities, including asset retirement obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates. Revenue Recognition We generate revenues primarily by producing and marketing phosphate and potash crop nutrients. Revenue is recognized when control of the product is transferred to the customer, which is generally upon transfer of title to the customer based on the contractual terms of each arrangement. Title is typically transferred to the customer upon shipment of the product. In certain circumstances, which are referred to as final price deferred arrangements, we ship product prior to the establishment of a valid sales contract. In such cases, we retain control of the product and do not recognize revenue until a sales contract has been agreed to with the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for the transfer of our goods. Our products are generally sold based on market prices prevailing at the time the sales contract is signed or through contracts which are priced at the time of shipment, except for the final priced deferred arrangements discussed above. Sales incentives are volumetric based annual programs and recorded as a reduction of revenue at the time of sale. We estimate the variable consideration related to our sales incentive programs based on the sales terms with customers and historical experience. Historically, sales incentives have represented 1% or less of total revenue and there have not been significant adjustments to such estimates in the financial statements. We sell Canadian-sourced potash outside Canada and the U.S. exclusively through Canpotex distribution. Canpotex sells potash to buyers in export markets pursuant to term and spot contracts at agreed upon prices. For sales through this channel, our revenue is recognized at the amount received from Canpotex representing proceeds from their sale of potash, less net costs of Canpotex. Sales are recognized when control is transferred to Canpotex, typically upon shipment of the product to Canpotex, and adjusted at the end of each reporting period based upon the updated estimated pricing or final pricing from Canpotex. Prior to final pricing, revenue is recognized only to the extent that it is probable a significant reversal of revenue will not occur. The constraint is estimated each period based on historical experience, market trends and industry data. The estimated constraint is not material to the Company's financial statements. Due to our membership in Canpotex, we eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex. For more information regarding our relationship with Canpotex and accounting considerations, see Note 9 of our Notes to Consolidated Financial Statements. For information regarding sales by product type and by geographic area, see Note 25 of our Notes to Consolidated Financial Statements. The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations. Specifically, we collect prepayments from certain customers in Brazil. In addition, cash collection from Canpotex may occur prior to delivery of product to the end customer. We generally satisfy our contractual liabilities within one quarter of incurring the liability. Other key revenue recognition accounting policies include: •Shipping and handling costs are included as a component of cost of goods sold. •We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses. •We have elected to recognize the cost for freight and shipping as an expense in cost of sales, when control over the product has passed to the customer. Non-Income Taxes We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge. The Potash Production Tax is a Saskatchewan provincial tax on potash production and consists of a base payment and a profits tax. In addition to the Canadian resource taxes, royalties are payable to the mineral owners with respect to potash reserves or production of potash. These resource taxes and royalties are recorded in our cost of goods sold. Our Canadian resource tax and royalty expenses were $457.0 million, $1.0 billion and $301.5 million during 2023, 2022 and 2021, respectively. We have approximately $136.5 million of assets recorded as of December 31, 2023 related to PIS and Cofins, which is a Brazilian federal value-added tax. This amount was mostly earned in 2008 through 2022; we believe that it will be realized through offsetting income tax payments or other federal taxes or receiving cash refunds. As of December 31, 2022 we had approximately $105.0 million of assets recorded for these matters. Should the Brazilian government determine that these are not valid credits upon audit, this could impact our results in such period. We have recorded the PIS and Cofins credits at amounts which we believe are probable of collection. Information regarding PIS and Cofins taxes already audited is included in Note 23 of our Notes to Consolidated Financial Statements. Foreign Currency Translation The Company’s reporting currency is the U.S. dollar; however, for operations located in Canada and Brazil, the functional currency is the local currency. Assets and liabilities of these foreign operations are translated to U.S. dollars at exchange rates in effect at the balance sheet date, while income statement accounts and cash flows are translated to U.S. dollars at the 2average exchange rates for the period. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income in equity until the foreign entity is sold or liquidated. Transaction gains and losses result from transactions that are denominated in a currency other than the functional currency of the operation, primarily accounts receivable and intercompany loans in our Canadian entities denominated in U.S. dollars, intercompany loans receivable in our U.S. entities denominated in Brazilian real, and accounts payable in Brazil denominated in U.S. dollars. These foreign currency transaction gains and losses are presented separately in the Consolidated Statement of Earnings. Cash and Cash Equivalents Cash and cash equivalents include short-term, highly liquid investments with original maturities of 90 days or less and other highly liquid investments that are payable on demand such as money market accounts, certain certificates of deposit and repurchase agreements. The carrying amount of such cash equivalents approximates their fair value due to the short-term and highly liquid nature of these instruments. Concentration of Credit Risk In the U.S., we sell our products to manufacturers, distributors and retailers, primarily in the Midwest and Southeast. Internationally, our potash products are sold primarily through Canpotex, an export association. A concentration of credit risk arises from our sales and accounts receivable associated with the international sales of potash product through Canpotex. We consider our concentration risk related to the Canpotex receivable to be mitigated by their credit policy, which requires the underlying receivables to be substantially insured or secured by letters of credit. As of December 31, 2023 and 2022, there were $193.1 million and $244.4 million, respectively, of trade accounts receivable due from Canpotex. During 2023, 2022 and 2021, sales to Canpotex were $1.3 billion, $3.0 billion and $1.1 billion, respectively. Inventories Inventories of raw materials, work-in-process products, finished goods and operating materials and supplies are stated at the lower of cost or net realizable value. Costs for substantially all inventories are determined using the weighted average cost basis. To determine the cost of inventory, we allocate fixed expense to the costs of production based on the normal capacity, which refers to a range of production levels and is considered the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Fixed overhead costs allocated to each unit of production should not increase due to abnormally low production. Those excess costs are recognized as a current period expense. When a production facility is completely shut down temporarily, it is considered “idle”, and all related expenses are charged to cost of goods sold. Net realizable value of our inventory is defined as forecasted selling prices less reasonably predictable selling costs. Significant management judgment is involved in estimating forecasted selling prices including various demand and supply variables. Examples of demand variables include grain and oilseed prices, stock-to-use ratios and changes in inventories in the crop nutrients distribution channels. Examples of supply variables include forecasted prices of raw materials, such as phosphate rock, sulfur, ammonia and natural gas, estimated operating rates and industry crop nutrient inventory levels. Results could differ materially if actual selling prices differ materially from forecasted selling prices. Charges for lower of cost or market are recognized in our Consolidated Statements of Earnings in the period when there is evidence of a decline of market value below cost. Property, Plant and Equipment and Recoverability of Long-Lived Assets Property, plant and equipment are stated at cost. Costs of significant assets include capitalized interest incurred during the construction and development period. Repairs and maintenance, including planned major maintenance and plant turnaround costs, are expensed when incurred. Currently, we do not have any material exploration or development stage mining projects. When we transition to new mining areas within our current properties, we incur minimal pre-mining costs related to the permitting process and land preparation activities, such as water management control and construction of roads and access points. These costs are capitalized as part of our mineral properties and rights. Mineral properties and rights at our operations include mineral reserves and mineral resources. Mineral resources have not yet been scheduled in formal mine plans and therefore are not subject to depletion. Depletion expenses for mining operations, including mineral reserves, are generally determined using the units-of-production method based on estimates of proven and probable reserves. Depreciation is computed principally using the straight-line method and units-of-production method over the following useful lives: machinery and equipment: to 25 years; and buildings and leasehold improvements: to 40 years. We estimate initial useful lives based on experience and current technology. These estimates may be extended through sustaining capital programs. Factors affecting the fair value of our assets or periods of expected use may also affect the estimated useful lives of our assets and these factors can change. Therefore, we periodically review the estimated remaining lives of our facilities and other significant assets and adjust our depreciation rates prospectively where appropriate. Long-lived assets, including fixed assets and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment assessment involves management judgment and estimates of factors such as industry and market conditions, the economic life of the asset, sales volume and prices, inflation, raw materials costs, cost of capital, tax rates and capital spending. The carrying amount of a long-lived asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset group exceeds its fair value. Leases Right of use (“ROU”) assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception. At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease ROU assets within other assets and the associated lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment and the associated finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets. Leases with terms of less than twelve months, referred to as short-term leases, do not create a ROU asset or lease liability on the balance sheet. We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach, given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability. Contingencies Accruals for environmental remediation efforts are recorded when costs are probable and can be reasonably estimated. In determining these accruals, we use the most current information available, including similar past experiences, available technology, consultant evaluations, regulations in effect, the timing of remediation and cost-sharing arrangements. Adjustments to accruals, recorded as needed in our Consolidated Statement of Earnings each quarter, are made to reflect changes in and current status of these factors. We are involved from time to time in claims and legal actions incidental to our operations, both as plaintiff and defendant. We have established what we currently believe to be adequate accruals for pending legal matters. These accruals are established as part of an ongoing worldwide assessment of claims and legal actions that takes into consideration such items as advice of legal counsel, individual developments in court proceedings, changes in the law, changes in business focus, changes in the litigation environment, changes in opponent strategy and tactics, new developments as a result of ongoing discovery and our experience in defending and settling similar claims. The litigation accruals at any time reflect updated assessments of the then-existing claims and legal actions. The final outcome or potential settlement of litigation matters could differ materially from the accruals which we have established. Legal costs are expensed as incurred. Pension and Other Postretirement Benefits Mosaic offers a number of benefit plans that provide pension and other benefits to qualified employees. These plans include defined benefit pension plans, supplemental pension plans, defined contribution plans and other postretirement benefit plans. We accrue the funded status of our plans, which is representative of our obligations under employee benefit plans and the related costs, net of plan assets measured at fair value. The cost of pensions and other retirement benefits earned by employees is generally determined with the assistance of an actuary using the projected benefit method prorated on service and management’s best estimate of expected plan investment performance, salary escalation, retirement ages of employees and expected healthcare costs. Additional Accounting Policies To facilitate a better understanding of our consolidated financial statements we have disclosed the following significant accounting policies (with the exception of those identified above) throughout the following notes, with the related financial disclosures by major caption:
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Recently Issued Accounting Guidance |
12 Months Ended |
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Dec. 31, 2023 | |
| Accounting Standards Update and Change in Accounting Principle [Abstract] | |
| Recently Issued Accounting Guidance | RECENTLY ISSUED ACCOUNTING GUIDANCE In September 2022, the Financial Accounting Standards Board (“FASB”) issued guidance which requires that a buyer in a supplier financing program make annual disclosures about the program’s key terms, the balance sheet presentation of related amounts, the confirmed amount outstanding at the end of the period and associated rollforward information. We adopted this standard as of January 1, 2023, except for the amendment on rollforward information, which is effective for fiscal years beginning after December 15, 2023 (our fiscal 2024). We have historically presented supplier financing programs separately on the face of the balance sheet as structured accounts payable arrangements and disclosed key terms of such programs. As such, adoption of this standard did not impact our balance sheet presentation or footnote disclosures. In November 2023, the FASB issued guidance to improve reportable segment disclosure requirements, primarily through additional disclosures about significant segment expenses. The standard is effective for fiscal years beginning after December 15, 2023 (our fiscal 2024), and interim periods within fiscal years beginning after December 15, 2024 (our fiscal 2025), with early adoption permitted. The amendments would be applied retrospectively to all prior periods presented in the financial statements. We are currently evaluating the disclosure requirements related to the new standard. In December 2023, the FASB issued guidance to provide more disaggregation of income tax disclosures on the reconciliations of the income tax rate and income taxes paid. We are required to adopt the guidance in the first quarter of fiscal 2025, although early adoption is permitted. We are currently evaluating the disclosure requirements related to the new standard.
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Leases |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Operating and Finance Leases [Text Block] | LEASES Leasing Activity We have operating and finance leases for heavy mobile equipment, railcars, fleet vehicles, field and plant equipment, river and cross-gulf vessels, corporate offices, land, and computer equipment. Our leases have remaining lease terms of one year to 39 years, some of which include options to extend the lease for up to 20 years and some of which include options to terminate the lease within one year. Supplemental balance sheet information related to leases as of December 31, 2023 and December 31, 2022 is as follows:
Lease expense is generally included within cost of goods sold and selling, general and administrative expenses, except for interest on lease liabilities, which is recorded within net interest. The components of lease expense were as follows:
Rental expense for 2023, 2022 and 2021 was $252.1 million, $237.2 million and $211.8 million, respectively. Supplemental cash flow information related to leases was as follows:
Other information related to leases was as follows:
Future lease payments under non-cancellable leases recorded as of December 31, 2023, were as follows:
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Other Financial Statement Data |
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| Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Other Financial Statement Data | OTHER FINANCIAL STATEMENT DATA The following provides additional information concerning selected balance sheet accounts:
______________________________ (a)Final price deferred is product that has shipped to customers, but we retain control and do not recognize revenue until a sales contract has been agreed to with the customer. (b)Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other assets in the Consolidated Balance Sheets and amortized over the reasonably certain term of the associated hosting arrangement. Capitalized implementation costs expensed were not material in 2023. Interest expense, net was comprised of the following in 2023, 2022 and 2021:
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Property, Plant and Equipment |
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| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property Plant And Equipment | PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consist of the following:
Depreciation and depletion expense was $958.9 million, $932.1 million, and $811.8 million for 2023, 2022 and 2021, respectively. Interest capitalized on major construction projects was $35.2 million, $26.8 million, and $30.1 million for 2023, 2022 and 2021, respectively.
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Earnings Per Share |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings per share | EARNINGS PER SHARE The numerator for basic and diluted earnings per share (“EPS”) is net earnings attributable to Mosaic. The denominator for basic EPS is the weighted average number of shares outstanding during the period. The denominator for diluted EPS also includes the weighted average number of additional common shares that would have been outstanding if the dilutive potential common shares had been issued, unless the shares are anti-dilutive. The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:
A total of 0.5 million shares for 2023, 0.1 million shares for 2022 and 0.5 million shares for 2021 of common stock subject to issuance related to share-based awards have been excluded from the calculation of diluted EPS because the effect would have been anti-dilutive.
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Cash Flow Information |
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| Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Cash Flow Information | CASH FLOW INFORMATION Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:
Acquiring or constructing property, plant and equipment by incurring a liability does not result in a cash outflow for us until the liability is paid. In the period the liability is incurred, the change in operating accounts payable on the Consolidated Statements of Cash Flows is adjusted by such amount. In the period the liability is paid, the amount is reflected as a cash outflow from investing activities. The applicable net change in operating accounts payable that was classified to investing activities on the Consolidated Statements of Cash Flows was $(19.5) million, $(65.2) million, and $18.6 million for 2023, 2022 and 2021, respectively. We accrued $72.3 million related to the dividends declared in 2023 that will be paid in 2024. At December 31, 2022 and 2021, we had accrued dividends of $72.9 million and $43.6 million which were paid in 2023 and 2022, respectively. Included in proceeds from issuance of short-term debt and payments of short-term debt were $9.6 billion and ($9.5) billion related to our commercial paper arrangement. We had non-cash investing and financing transactions related to right-of-use assets obtained in exchange for lease obligations assets under finance leases in 2023 of $35.8 million. Non-cash investing and financing transactions related to assets acquired under capital leases were $27.2 million and $8.9 million for 2022 and 2021, respectively. In addition, in 2023, we purchased equipment of $43 million through the exchange of right of use assets. Depreciation, depletion and amortization includes $958.9 million, $932.1 million and $811.8 million related to depreciation and depletion of property, plant and equipment, and $1.7 million, $1.8 million and $1.1 million related to the amortization of intangible assets for 2023, 2022 and 2021, respectively.
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Investments in Non-consolidated Companies |
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| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments in non-consolidated companies | INVESTMENTS IN NON-CONSOLIDATED COMPANIES We have investments in various international and domestic entities and ventures. The equity method of accounting is applied to such investments when the ownership structure prevents us from exercising a controlling influence over operating and financial policies of the businesses but still allow us to have significant influence. Under this method, our equity in the net earnings or losses of the investments is reflected as equity in net earnings of non-consolidated companies on our Consolidated Statements of Earnings. The effects of material intercompany transactions with these equity method investments are eliminated, including the gross profit on sales to and purchases from our equity-method investments which is deferred until the time of sale to the final third-party customer. The cash flow presentation of dividends received from equity method investees is determined by evaluation of the facts, circumstances and nature of the distribution. A summary of our equity-method investments, which were in operation as of December 31, 2023, is as follows:
The summarized financial information shown below includes all non-consolidated companies carried on the equity method.
MWSPC owns and operates a mine and two chemical complexes that produce phosphate fertilizers and other downstream phosphate products in the Kingdom of Saudi Arabia. As of December 31, 2023, our cash investment was $770.0 million. We have not made any capital contributions since 2017 and do not expect future contributions to be needed. We market approximately 25% of the phosphate production of this joint venture. As of December 31, 2023, MWSPC represented 77% of the total assets and 68% of the total liabilities in the table above. In 2023, 2022 and 2021 our share of equity in net earnings was $57.6 million, $194.5 million, and $5.0 million, respectively. The difference between our share of equity in net assets as shown in the above table and the investment in non-consolidated companies as shown on the Consolidated Balance Sheets is mainly due to the July 1, 2016, equity contribution of $120 million we made to MWSPC, representing the remaining liability for our portion of mineral rights value transferred to MWSPC from Saudi Arabian Mining Company. Canpotex is a Saskatchewan export association used by two Canadian potash producers to market, sell and distribute Canadian potash products outside of Canada and the U.S. to unrelated third -arty customers at market prices. It operates as a break-even entity and therefore has insignificant equity earnings or loss. We have concluded that the sales to Canpotex are not at arm’s-length, due to the unique pricing and payment structure and financial obligations of the stockholders. Therefore, the full profit on sales to Canpotex is eliminated until Canpotex no longer has control of the related inventory and has sold it to an unrelated third-party customer. We eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex.
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Goodwill |
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| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | GOODWILL Goodwill is carried at cost, not amortized, and represents the excess of the purchase price and related costs over the fair value assigned to the net identifiable assets of a business acquired. We test goodwill for impairment on a quantitative basis at the reporting unit level on an annual basis or upon the occurrence of events that may indicate possible impairment. Impairment is measured as the excess carrying value over the fair value of goodwill. The changes in the carrying amount of goodwill, by reporting unit, as of December 31, 2023 and 2022, are as follows:
As of October 31, 2023, we performed our annual quantitative assessment. In performing our assessment, we estimated the fair value of each of our reporting units using the income approach, also known as the discounted cash flow (“DCF”) method. The income approach utilized the present value of cash flows to estimate fair value. The future cash flows for our reporting units were projected based on our estimates, at that time, for revenue, operating income and other factors (such as working capital and capital expenditures for each reporting unit). To determine if the fair value of each of our reporting units with goodwill exceeded its carrying value, we assumed sales volume growth rates based on our long-term expectations, our internal selling prices and projected raw material prices for years one through five, which were anchored in projections from CRU International Limited (“CRU”), an independent third party data source. Selling prices and raw material prices for years six and beyond were based on anticipated market growth and long-term CRU outlooks. The discount rates used in our DCF method were based on a weighted-average cost of capital (“WACC”), determined from relevant market comparisons. A terminal value growth rate of 2% was applied to all years thereafter for the projected period and reflected our estimate of stable growth. We then calculated a present value of the respective cash flows for each reporting unit to arrive at an estimate of fair value under the income approach. Finally, we compared our estimates of fair values for our reporting units, to our October 31, 2023 total public market capitalization, based on our common stock price at that date. In making this assessment, we considered, among other things, expectations of projected net sales and cash flows, assumptions impacting the WACC, changes in our stock price and changes in the carrying values of our reporting units with goodwill. We also considered overall business conditions. The Potash, Mosaic Fertilizantes and Corporate, Eliminations and Other reporting units were evaluated and not considered at risk of goodwill impairment at October 31, 2023. Our Phosphate reporting unit has no carries no goodwill. Subsequent to our annual evaluation, on December 28, 2023, Brazil enacted a tax law change that eliminates the VAT preference starting in 2024. While we are currently assessing the full impact of this change, our Mosaic Fertilizantes reporting unit would have an estimated fair value that is not in significant excess of its carrying value. We continue to believe that our long-term financial goals will be achieved and as a result, we concluded that the goodwill assigned to this reporting unit was not impaired, but could be at risk of future impairment. As of December 31, 2023, $46.2 million of goodwill was tax deductible.
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Financing Arrangements |
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| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financing Arrangements | FINANCING ARRANGEMENTS Mosaic Credit Facility On August 19, 2021, we entered into a committed, unsecured, five-year revolving credit facility of up to $2.5 billion (the “Mosaic Credit Facility”), with a maturity date of August 19, 2026, which is intended to serve as our primary senior unsecured bank credit facility. The Mosaic Credit Facility has cross-default provisions that, in general, provide that a failure to pay principal or interest under, or any other amount payable under, any indebtedness with an outstanding principal amount of $100 million or more, or breach or default under such indebtedness that permits the holders thereof to accelerate the maturity thereof, will result in a cross-default. The Mosaic Credit Facility requires Mosaic to maintain certain financial ratios, including a ratio of Consolidated Indebtedness, which has been redefined to exclude unrestricted cash and cash equivalents, to Consolidated Capitalization Ratio (as defined) of no greater than 0.65 to 1.0, as well as a minimum Interest Coverage Ratio (as defined) of not less than 3.0 to 1.0. We were in compliance with these ratios as of December 31, 2023. The Mosaic Credit Facility also contains other events of default and covenants that limit various matters. These provisions include limitations on indebtedness, liens, investments and acquisitions (other than capital expenditures), certain mergers, certain sales of assets and other matters customary for credit facilities of this nature. As of December 31, 2023 and 2022, we had outstanding letters of credit that utilized a portion of the amount available for revolving loans under the Mosaic Credit Facility of $10.5 million and $10.9 million, respectively. The net available borrowings for revolving loans under the Mosaic Credit Facility were approximately $2.49 billion as of December 31, 2023 and December 31, 2022, respectively. As of December 31, 2023 and 2022, unused commitment fees accrued at an average rate of 0.15%, generating expenses of $3.8 million in each period. In 2021, unused commitment fees accrued at 0.40% under our prior credit facility, which was in place through August 19, 2021, and at 0.15% thereafter, generating expense of $7.0 million. Short-Term Debt Short-term debt consists of the revolving credit facility under the Mosaic Credit Facility, under which there were no borrowings as of December 31, 2023, working capital financing arrangements and various other short-term borrowings related to our international operations in India, China and Brazil. These other short-term borrowings outstanding were $399.7 million and $224.9 million as of December 31, 2023 and 2022, respectively. We have an inventory financing arrangement whereby we can sell up to $625 million of certain inventory for cash and subsequently repurchase the inventory at an agreed upon price and time in the future, not to exceed 180 days. Under the terms of the agreement, we may borrow up to 90% of the value of the inventory. It is later repurchased by Mosaic at the original sale price plus interest and any transaction costs. As of December 31, 2023 and 2022, there was no outstanding balance under this arrangement. Any outstanding amount would be classified as short-term debt on the Consolidated Balance Sheets. We have Receivable Purchasing Agreements (“RPAs”), with banks whereby, from time-to-time, we sell certain receivables. The net face value of the purchased receivables may not exceed $600 million at any point in time. The purchase price of the receivable sold under the RPA is the face value of the receivable less an agreed upon discount. The receivables sold under the RPAs are accounted for as true sales. Upon sale, these receivables are removed from the Consolidated Balance Sheets. Cash received is presented as cash provided by operating activities in the Consolidated Statements of Cash Flows. The Company sold approximately $1.3 billion and $2.5 billion as of December 31, 2023 and 2022, respectively, of accounts receivable under these arrangements. Discounts on sold receivables were not material for any period presented. Following the sale to the banks, we continue to service the collection of the receivables on behalf of the banks without further consideration. As of December 31, 2023 and 2022, there was no amount outstanding to be remitted to the bank. Any outstanding amount would be classified in accrued liabilities on the Condensed Consolidated Balance Sheets. Cash collected and remitted is presented as cash used in financing activities in the Condensed Consolidated Statements of Cash Flows. We have a commercial paper program which allows us to issue unsecured commercial paper notes with maturities that vary, but do not exceed 397 days from the date of issue, up to a maximum aggregate face or principal amount outstanding at any time of $2.5 billion. We plan to use the revolving credit facility as a liquidity backstop for borrowings under the commercial paper program. As of December 31, 2023, we had $399.5 million outstanding under this program, with a weighted average interest rate of 5.62% and a remaining average term of nine days. As of December 31, 2022, we had $224.8 million outstanding under this program, with a weighted average interest rate of 4.66% and a remaining average term of 10 days. We had additional outstanding bilateral letters of credit of $52.6 million as of December 31, 2023, which includes $50.0 million as required by the 2015 Consent Decrees as described further in Note 14 of our Consolidated Financial Statements. Long-Term Debt, including Current Maturities On November 13, 2017, we issued senior notes consisting of $550 million aggregate principal amount of 3.250% senior notes due 2022 and $700 million aggregate principal amount of 4.050% senior notes due 2027 (“Senior Notes of 2017”). In 2022, we paid the outstanding balance of $550 million on our 3.250% senior notes, due November 15, 2022, without premium or penalty. In May 2023, we entered into a 10-year senior unsecured term loan facility pursuant to which we can draw up to $700 million. The term loan matures on May 18, 2033. We may voluntarily prepay the outstanding principal without premium or penalty. As of December 31, 2023, $500 million has been drawn under this facility. Interest rates for the term loan are variable and are based on the Secured Overnight Financing Rate (“SOFR”) plus credit spread adjustments. On, December 4, 2023, we issued new senior notes consisting of $400 million aggregate principal amount of 5.375% due 2028 (the “Senior Notes of 2023”). We have the following additional senior notes outstanding: $500 million aggregate principal amount of 5.45% senior notes due 2033 and $600 million aggregate principal amount of 5.625% senior notes due 2043 (collectively, the “Senior Notes of 2013”); and $300 million aggregate principal amount of 4.875% senior notes due 2041 (collectively, the “Senior Notes of 2011”). In 2023, we paid the outstanding balance of $900 million on our 4.25% senior notes, due November 15, 2023, without premium or penalty. The Senior Notes of 2011, the Senior Notes of 2013, the Senior Notes of 2017, and the Senior Notes of 2023 are Mosaic’s senior unsecured obligations and rank equally in right of payment with Mosaic’s existing and future senior unsecured indebtedness. The indenture governing these notes contains restrictive covenants limiting debt secured by liens, sale and leaseback transactions and mergers, consolidations and sales of substantially all assets, as well as other events of default. A debenture issued by Mosaic Global Holdings, Inc., one of our consolidated subsidiaries, due in 2028 (the “2028 Debenture”), is outstanding as of December 31, 2023, with a balance of $147.1 million. The indenture governing the 2028 Debenture also contains restrictive covenants limiting debt secured by liens, sale and leaseback transactions and mergers, consolidations and sales of substantially all assets, as well as events of default. The obligations under the 2028 Debenture are guaranteed by the Company and several of its subsidiaries. Long-term debt primarily consists of unsecured notes, finance leases, unsecured debentures and secured notes. Long-term debt as of December 31, 2023 and 2022, respectively, consisted of the following:
______________________________ (a) Includes deferred financing fees related to our long-term debt. Scheduled maturities of long-term debt are as follows for the periods ending December 31:
Structured Accounts Payable Arrangements In Brazil, we finance some of our potash-based fertilizer, sulfur, ammonia and other raw material product purchases through third-party contractual arrangements. These arrangements provide that the third-party intermediary advance the amount of the scheduled payment to the vendor, less an appropriate discount, at a scheduled payment date and Mosaic makes payment to the third-party intermediary at dates ranging from 98 to 182 days from date of shipment. At December 31, 2023 and 2022, these structured accounts payable arrangements were $399.9 million and $751.2 million, respectively.
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Marketable Securities Held in Trusts |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Marketable Securities Held in Trusts | MARKETABLE SECURITIES HELD IN TRUSTS In August 2016, Mosaic deposited $630 million into two trust funds (together, the “RCRA Trusts”) created to provide additional financial assurance in the form of cash for the estimated costs (“Gypstack Closure Costs”) of closure and long-term care of our Florida and Louisiana phosphogypsum management systems (“Gypstacks”), as described further in Note 14 of our Notes to Consolidated Financial Statements. Our actual Gypstack Closure Costs are generally expected to be paid by us in the normal course of our Phosphates business; however, funds held in each of the RCRA Trusts can be drawn by the applicable governmental authority in the event we cannot perform our closure and long-term care obligations. When our estimated Gypstack Closure Costs with respect to the facilities associated with a RCRA Trust are sufficiently lower than the amount on deposit in that RCRA Trust, we have the right to request that the excess funds be released to us. The same is true for the RCRA Trust balance remaining after the completion of our obligations, which will be performed over a period that may not end until three decades or more after a Gypstack has been closed. The investments held by the RCRA Trusts are managed by independent investment managers with discretion to buy, sell, and invest pursuant to the objectives and standards set forth in the related trust agreements. Amounts reserved to be held or held in the RCRA Trusts (including losses or reinvested earnings) are included in other assets on our Consolidated Balance Sheets. The RCRA Trusts hold investments, which are restricted from our general use, in marketable debt securities classified as available-for-sale and are carried at fair value. As a result, unrealized gains and losses are included in other comprehensive income until realized, unless it is determined that the entire unamortized cost basis of the investment is not expected to be recovered. A credit loss would then be recognized in operations for the amount of the expected credit loss. As of December 31, 2023, we expect to recover our amortized cost on all available-for-sale securities and have not established an allowance for credit loss. We review the fair value hierarchy classification on a quarterly basis. Changes in the ability to observe valuation inputs may result in a reclassification of levels for certain securities within the fair value hierarchy. We determine the fair market values of our available-for-sale securities and certain other assets based on the fair value hierarchy described below: Level 1: Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2: Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model-based valuation techniques for which all significant assumptions are observable in the market. Level 3: Values generated from model-based techniques that use significant assumptions not observable in the market. These unobservable assumptions reflect our own estimates of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow models and similar techniques. The estimated fair value of the investments in the RCRA Trusts as of December 31, 2023 and December 31, 2022 are as follows:
The following tables show gross unrealized losses and fair values of the RCRA Trusts’ available-for-sale securities that have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2023 and December 31, 2022.
The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of December 31, 2023. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.
For the year ended December 31, 2023, realized gains and (losses) were $9.5 million and $(28.9) million, respectively. For the year ended December 31, 2022, realized gains and (losses) were $0.3 million and $(46.9) million, respectively and for the year ended December 31, 2021, realized gains and (losses) were $5.8 million and $(3.4) million, respectively.
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Income Taxes |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | INCOME TAXES In preparing our Consolidated Financial Statements, we utilize the asset and liability approach in accounting for income taxes. We recognize income taxes in each of the jurisdictions in which we have a presence. For each jurisdiction, we estimate the actual amount of income taxes currently payable or receivable, as well as deferred income tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The provision for income taxes for 2023, 2022 and 2021 consisted of the following:
The components of earnings from consolidated companies before income taxes, and the effects of significant adjustments to tax computed at the federal statutory rate, were as follows:
2023 Effective Tax Rate In the year ended December 31, 2023, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period. The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, by a benefit associated with non-U.S. incentives, changes in valuation allowances, and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred. Tax expense specific to the period included a net benefit of $43.4 million. The net benefit relates to the following: $38.1 million related to true-up of estimates primarily related to our U.S. tax return, $24.4 million related to changes to valuation allowances in Brazil, and $11.6 million related to an increase in a U.S. deferred tax asset. The tax benefits are partially offset by a net tax cost of $29.3 million related to income tax expense on undistributed earnings, and $1.4 million of other miscellaneous costs. 2022 Effective Tax Rate In the year ended December 31, 2022, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period. The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, by a benefit associated with non-U.S. incentives, changes in valuation allowances, and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred. Tax expense specific to the period included a net expense of $26.2 million. The net expense relates to the following: $29.0 million related to true-up of estimates primarily related to our U.S. tax return, $4.8 million related to changes to valuation allowances in Brazil, $4.0 million related to interest of effectively settled unrecognized tax benefits and $1.2 million of other miscellaneous costs. The tax expenses are partially offset by a net tax benefit related to $12.8 million of RSUs vested in CY22 above grant price. 2021 Effective Tax Rate In the year ended December 31, 2021, there were two items impacting the effective tax rate: 1) items attributable to ordinary business operations during the year, and 2) other items specific to the period, including the Esterhazy mine closure costs. The tax impact of our ordinary business operations is affected by the mix of earnings across jurisdictions in which we operate, by a benefit associated with depletion, by a benefit associated with non-U.S. incentives, changes in valuation allowances, and by the impact of certain entities being taxed in both their foreign jurisdiction and the U.S., including foreign tax credits for various taxes incurred. Tax expense specific to the period included a net benefit of $0.6 million. The net expense relates to the following: $23.9 million related to true-up of estimates primarily related to our U.S. tax return and $20.4 million related to an increase in non-U.S. reserves. The tax expenses are partially offset by net tax benefits related to $43.7 million of Esterhazy mine closure costs and $1.2 million related to a benefit for withholding taxes related to undistributed earnings and other miscellaneous tax expenses. Deferred Tax Liabilities and Assets Significant components of our deferred tax liabilities and assets were as follows as of December 31:
We have certain non-U.S. entities that are taxed in both their local jurisdiction and the U.S. As a result, we have deferred tax balances for both jurisdictions. As of December 31, 2023 and 2022, these non-U.S. deferred taxes are offset by approximately $220.5 million and $202.2 million, respectively, of anticipated foreign tax credits included within our depreciation and depletion components of deferred tax liabilities above. We have recorded a valuation allowance against the anticipated foreign tax credits of $220.5 million and $202.2 million for December 31, 2023 and 2022, respectively. Tax Carryforwards As of December 31, 2023, we had estimated carryforwards for tax purposes as follows: net operating losses of $1.8 billion, capital losses of $63.6 million, foreign tax credits of $1.3 billion and $4.4 million of non-U.S. business credits. These carryforward benefits may be subject to limitations imposed by the Internal Revenue Code, and in certain cases, provisions of foreign law. Approximately $1.3 billion of our net operating loss carryforwards relate to Brazil and can be carried forward indefinitely but are limited to 30 percent of taxable income each year. The majority of the remaining net operating loss carryforwards relate to U.S. federal and certain U.S. states and can be carried forward indefinitely. Of the $1.3 billion of foreign tax credits, approximately $219.2 million have an expiration date of 2026, approximately $19.6 million have an expiration date of 2029, approximately $14.7 million have an expiration date of 2030 and approximately $14.8 million have an expiration date of 2033. The realization of our foreign tax credit carryforwards is dependent on market conditions, tax law changes, and other business outcomes including our ability to generate certain types of taxable income in the future. Due to current business operations and future forecasts, the Company has determined that no valuation allowance is required on its general basket foreign tax credits. As a result of changes in U.S. tax law due to the Tax Cuts and Jobs Act, the Company recorded valuation allowances against its branch basket foreign tax credits of $986.1 million as of December 31, 2023. As of December 31, 2023, we have not recognized a deferred tax liability for un-remitted earnings of approximately $4.3 billion from certain foreign operations because we believe our subsidiaries have invested the undistributed earnings indefinitely, or the earnings will be remitted in a tax-neutral transaction. It is not practicable for us to determine the amount of unrecognized deferred tax liability on these reinvested earnings. As part of the accounting for the Tax Cuts and Jobs Act, we recorded local country withholding taxes related to certain entities from which we began repatriating undistributed earnings and will continue to record local country withholding taxes, including foreign exchange impacts, on all future earnings. Valuation Allowance In assessing the need for a valuation allowance, we consider whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. We evaluate our ability to realize the tax benefits associated with deferred tax assets by analyzing the relative impact of all the available positive and negative evidence regarding our forecasted taxable income using both historical and projected future operating results, the reversal of existing taxable temporary differences, taxable income in prior carry-back years (if permitted) and the availability of tax planning strategies. The ultimate realization of deferred tax assets is dependent upon the generation of certain types of future taxable income during the periods in which those temporary differences become deductible. In making this assessment, we consider the scheduled reversal of deferred tax liabilities, our ability to carry back the deferred tax asset, projected future taxable income, and tax planning strategies. A valuation allowance will be recorded in each jurisdiction in which a deferred income tax asset is recorded when it is more likely than not that the deferred income tax asset will not be realized. Changes in deferred tax asset valuation allowances typically impact income tax expense. For the year ended December 31, 2023, the valuation allowance increased by $512.0 million, of which a $531.0 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits, and a $0.2 million increase related to changes in valuation allowances in other foreign jurisdictions. These increases to the valuation allowance were partially offset by a decrease of $12.7 million related to changes in valuation allowances and currency translation in Brazil, and $6.5 million changes in valuation allowances in other foreign jurisdictions. For the year ended December 31, 2022, the valuation allowance increased by $135.2 million, of which a $83.6 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits, a $13.2 million increase related to changes in valuation allowances and currency translation in Brazil, and $46.8 million changes in valuation allowances in other foreign jurisdictions. These increases to the valuation allowance were partially offset by a decrease of $1.5 million to net operating losses for certain U.S. states, and $7.0 million changes in valuation allowances in other foreign jurisdictions. For the year ended December 31, 2021, the valuation allowance increased by $91.7 million, of which a $111.2 million increase related to changes in the valuation allowance to U.S. branch foreign tax credits. These increases to the valuation allowance were partially offset by a decrease of $13.9 million related to changes in valuation allowances and currency translation in Brazil, $2.4 million decrease to net operating losses for certain U.S. states, and $3.4 million changes in valuation allowances in other foreign jurisdictions. Changes to our income tax valuation allowance were as follows:
Uncertain Tax Positions Accounting for uncertain income tax positions is determined by prescribing a minimum probability threshold that a tax position must meet before a financial statement benefit is recognized. This minimum threshold is that a tax position is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than a fifty percent likelihood of being realized upon ultimate settlement. As of December 31, 2023, we had $25.8 million of gross uncertain tax positions. If recognized, the benefit to our effective tax rate in future periods would be approximately $22.6 million of that amount. During 2023, we recorded net increases in our uncertain tax positions of $0.5 million related to certain U.S. and non-U.S. tax matters, of which $3.0 million impacted the effective tax rate. This increase was offset by items not included in gross uncertain tax positions. Based upon the information available as of December 31, 2023, it is reasonably possible that the amount of unrecognized tax benefits will change in the next twelve months; however, the change cannot reasonably be estimated. A summary of gross unrecognized tax benefit activity is as follows:
We recognize interest and penalties related to unrecognized tax benefits as a component of our income tax expense. Interest and penalties accrued in our Consolidated Balance Sheets as of December 31, 2023 and 2022 were $6.4 million and $5.0 million, respectively, and are included in other noncurrent liabilities in the Consolidated Balance Sheets. Open Tax Periods We operate in multiple tax jurisdictions, both within the U.S. and outside the U.S., and face audits from various tax authorities regarding transfer pricing, deductibility of certain expenses, and intercompany transactions, as well as other matters. With few exceptions, we are no longer subject to examination for tax years prior to 2017. Mosaic is continually under audit by various tax authorities in the normal course of business. Such tax authorities may raise issues contrary to positions taken by the Company. If such positions are ultimately not sustained by the Company, this could result in material assessments to the Company. The costs related to defending, if needed, such positions on appeal or in court may be material. The Company believes that any issues considered are properly accounted for. We are currently under audit by the Internal Revenue Service for the tax years ended December 31, 2018 and December 31, 2020. Based on the information available, we do not anticipate significant changes to our unrecognized tax benefits as a result of these examinations other than the amounts discussed above. We are currently under audit by the Canada Revenue Agency for the tax year ended December 31, 2020. Based on the information available, we do not anticipate significant changes to our unrecognized tax benefits as a result of these examinations other than the amounts discussed above
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Asset Retirement Obligations |
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| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting for Asset Retirement Obligations | ASSET RETIREMENT OBLIGATIONS We recognize our estimated ARO’s in the period in which we have an existing legal obligation associated with the retirement of a tangible long-lived asset and the amount of the liability can be reasonably estimated. The ARO is recognized at fair value when the liability is incurred with a corresponding increase in the carrying amount of the related long lived asset. We depreciate the tangible asset over its estimated useful life. The liability is adjusted in subsequent periods through accretion expense which represents the increase in the present value of the liability due to the passage of time. Such depreciation and accretion expenses are included in cost of goods sold for operating facilities and other operating expense for indefinitely closed facilities. Our legal obligations related to asset retirement require us to: (i) reclaim lands disturbed by mining as a condition to receive permits to mine phosphate ore reserves; (ii) treat low pH process water in Gypstacks to neutralize acidity; (iii) close and monitor Gypstacks at our Florida and Louisiana facilities at the end of their useful lives; (iv) remediate certain other conditional obligations; (v) remove all surface structures and equipment, plug and abandon mine shafts, contour and revegetate, as necessary, and monitor for five years after closing our Carlsbad, New Mexico facility; (vi) decommission facilities, manage tailings and execute site reclamation at our Saskatchewan potash mines at the end of their useful lives; (vii) decommission mines in Brazil and Peru; and (viii) decommission plant sites and closed Gypstacks in Brazil. The estimated liability for these legal obligations is based on the estimated cost to satisfy the above obligations which is discounted using a credit-adjusted risk-free rate. A reconciliation of our AROs is as follows:
North America Gypstack Closure Costs A majority of our ARO relates to Gypstack Closure Costs in Florida and Louisiana. For financial reporting purposes, we recognize our estimated Gypstack Closure Costs at their present value. This present value determined for financial reporting purposes is reflected on our Consolidated Balance Sheets in accrued liabilities and other noncurrent liabilities. As of December 31, 2023 and 2022, the present value of our North American Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet was approximately $1.2 billion and $1.0 billion, respectively. As discussed below, we have arrangements to provide financial assurance for the estimated Gypstack Closure Costs associated with our facilities in Florida and Louisiana. EPA RCRA Initiative. On September 30, 2015, we and our subsidiary, Mosaic Fertilizer, LLC (“Mosaic Fertilizer”), reached agreements with the U.S. Environmental Protection Agency (“EPA”), the U.S. Department of Justice (“DOJ”), the Florida Department of Environmental Protection (“FDEP”) and the Louisiana Department of Environmental Quality on the terms of two consent decrees (collectively, the “2015 Consent Decrees”) to resolve claims relating to our management of certain waste materials onsite at our Riverview, New Wales, Green Bay, South Pierce and Bartow fertilizer manufacturing facilities in Florida and our Faustina and Uncle Sam facilities in Louisiana. This followed a 2003 announcement by the EPA Office of Enforcement and Compliance Assurance that it would be targeting facilities in mineral processing industries, including phosphoric acid producers, for a thorough review under the U.S. Resource Conservation and Recovery Act (“RCRA”) and related state laws. As discussed below, a separate consent decree was previously entered into with the EPA and the FDEP with respect to RCRA compliance at the Plant City Facility that we acquired as part of our acquisition of the Florida phosphate assets and assumption of certain related liabilities of CF Industries, Inc. (“CF”). The remaining monetary obligations under the 2015 Consent Decrees include a provision of additional financial assurance for the estimated Gypstack Closure Costs for Gypstacks at the covered facilities. The RCRA Trusts are discussed in Note 12 to our Consolidated Financial Statements. In addition, we have agreed to guarantee the difference between the amounts held in each RCRA Trust (including any earnings) and the estimated closure and long-term care costs. As of December 31, 2023, the undiscounted amount of our Gypstack Closure Costs ARO associated with the facilities covered by the 2015 Consent Decrees, determined using the assumptions used for financial reporting purposes, was approximately $2.2 billion, and the present value of our Gypstack Closure Costs ARO reflected in our Consolidated Balance Sheet for those facilities was approximately $819.9 million. Plant City and Bonnie Facilities. As part of the CF Phosphate Assets Acquisition, we assumed certain AROs related to Gypstack Closure Costs at both the Plant City Facility and a closed Florida phosphate concentrates facility in Bartow, Florida (the “Bonnie Facility”) that we acquired. Associated with these assets are two related financial assurance arrangements for which we became responsible and that provided sources of funds for the estimated Gypstack Closure Costs for these facilities. Pursuant to federal or state laws, the applicable government entities are permitted to draw against such amounts in the event we cannot perform such closure activities. One of the financial assurance arrangements was initially a trust (the “Plant City Trust”) established to meet the requirements under a consent decree with the EPA and the FDEP with respect to RCRA compliance at the Plant City Facility. The Plant City Trust also satisfied Florida financial assurance requirements at that site. Beginning in September 2016, as a substitute for the financial assurance provided through the Plant City Trust, we have provided financial assurance for the Plant City Facility in the form of a surety bond (the “Plant City Bond”). The amount of the Plant City Bond is $303.1 million, which reflects our closure cost estimates as of December 31, 2023. The other financial assurance arrangement was also a trust fund (the “Bonnie Facility Trust”) established to meet the requirements under Florida financial assurance regulations that apply to the Bonnie Facility. In July 2018, we received $21.0 million from the Bonnie Facility Trust by substituting for the trust fund a financial test mechanism (“Bonnie Financial Test”) supported by a corporate guarantee as allowed by state regulations. Both financial assurance funding obligations require estimates of future expenditures that could be impacted by refinements in scope, technological developments, new information, cost inflation, changes in regulations, discount rates and the timing of activities. Under our current approach to satisfying applicable requirements, additional financial assurance would be required in the future if increases in cost estimates exceed the face amount of the Plant City Bond or the amount supported by the Bonnie Financial Test. As of December 31, 2023 and 2022, the aggregate amounts of AROs associated with the combined Plant City Facility and Bonnie Facility Gypstack Closure Costs included in our consolidated balance sheet were $361.8 million and $327.5 million, respectively. The aggregate amount represented by the Plant City Bond exceeds the present value of the aggregate amount of ARO associated with that facility. This is because the amount of financial assurance we are required to provide represents the aggregate undiscounted estimated amount to be paid by us in the normal course of our Phosphates business over a period that may not end until three decades or more after the Gypstack has been closed, whereas the ARO included in our Consolidated Balance Sheet reflects the discounted present value of those estimated amounts.
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Derivative Instruments and Hedging Activities |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accounting for Derivative Instruments and Hedging Activities | DERIVATIVE INSTRUMENTS AND HEDGING ACTIVITIES We periodically enter into derivatives to mitigate our exposure to foreign currency risks, interest rate movements and the effects of changing commodity prices. We record all derivatives on the Consolidated Balance Sheets at fair value. The fair value of these instruments is determined by using quoted market prices, third-party comparables, or internal estimates. We net our derivative asset and liability positions when we have a master netting arrangement in place. Changes in the fair value of the foreign currency, commodity and freight derivatives are immediately recognized in earnings. As of December 31, 2023 and 2022, the gross asset position of our derivative instruments was $36.4 million and $38.8 million, respectively, and the gross liability position of our liability instruments was $17.2 million and $50.1 million, respectively. We do not apply hedge accounting treatments to our foreign currency exchange contracts, commodities contracts, or freight contracts. Unrealized gains and (losses) on foreign currency exchange contracts used to hedge cash flows related to the production of our products are included in cost of goods sold in the Consolidated Statements of Earnings. Unrealized gains and (losses) on commodities contracts and certain forward freight agreements are also recorded in cost of goods sold in the Consolidated Statements of Earnings. Unrealized gains or (losses) on foreign currency exchange contracts used to hedge cash flows that are not related to the production of our products are included in the foreign currency transaction gain/(loss) caption in the Consolidated Statements of Earnings. From time to time, we enter into fixed-to-floating interest rate contracts. We apply fair value hedge accounting treatment to these contracts. Under these arrangements, we agree to exchange, at specified intervals, the difference between fixed and floating interest amounts calculated by reference to an agreed-upon notional principal amount. The mark-to-market of these fair value hedges is recorded as gains or (losses) in interest expense. We had no fixed-to-floating interest rate swap agreements in effect as of December 31, 2023 and 2022. The following is the total absolute notional volume associated with our outstanding derivative instruments:
Credit-Risk-Related Contingent Features Certain of our derivative instruments contain provisions that are governed by International Swap and Derivatives Association agreements with the counterparties. These agreements contain provisions that allow us to settle for the net amount between payments and receipts, and also state that if our debt were to be rated below investment grade, certain counterparties to the derivative instruments could request full collateralization on derivative instruments in net liability positions. The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position as of December 31, 2023 and 2022 was $15.6 million and $34.8 million, respectively. We have no cash collateral posted in association with these contracts. If the credit-risk-related contingent features underlying these agreements were triggered on December 31, 2023, we would have been required to post an additional $8.7 million of collateral assets, which are either cash or U.S. Treasury instruments, to the counterparties. Counterparty Credit Risk We enter into foreign exchange, certain commodity and interest rate derivatives, primarily with a diversified group of highly rated counterparties. We continually monitor our positions and the credit ratings of the counterparties involved and limit the amount of credit exposure to any one party. While we may be exposed to potential losses due to the credit risk of non-performance by these counterparties, material losses are not anticipated. We closely monitor the credit risk associated with our counterparties and customers and to date have not experienced material losses.
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Fair Value Measurements |
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Measurements | FAIR VALUE MEASUREMENTS Following is a summary of the valuation techniques for assets and liabilities recorded in our Consolidated Balance Sheets at fair value on a recurring basis: Foreign Currency Derivatives–The foreign currency derivative instruments that we currently use are forward contracts and zero-cost collars, which typically expire within 18 months. Most of the valuations are adjusted by a forward yield curve or interest rates. In such cases, these derivative contracts are classified within Level 2. Some valuations are based on exchange-quoted prices, which are classified as Level 1. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment or foreign currency transaction gain (loss). As of December 31, 2023 and 2022, the gross asset position of our foreign currency derivative instruments was $36.4 million and $20.7 million, respectively, and the gross liability position of our foreign currency derivative instruments was $8.0 million and $49.2 million, respectively. Commodity Derivatives–The commodity contracts primarily relate to natural gas. The commodity derivative instruments that we currently use are forward purchase contracts, swaps and three-way collars. The natural gas contracts settle using NYMEX futures or AECO price indexes, which represent fair value at any given time. The contracts’ maturities and settlements are scheduled for future months and settlements are scheduled to coincide with anticipated gas purchases during those future periods. Quoted market prices from NYMEX and AECO are used to determine the fair value of these instruments. These market prices are adjusted by a forward yield curve and are classified within Level 2. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of cost of goods sold in our Corporate, Eliminations and Other segment. As of December 31, 2023 and 2022, the gross asset position of our commodity derivative instruments was zero and $18.1 million, respectively, and the gross liability position of our commodity derivative instruments was $9.2 million and $0.9 million, respectively. Interest Rate Derivatives–We manage interest expense through interest rate contracts to convert a portion of our fixed-rate debt into floating-rate debt. From time to time, we also enter into interest rate swap agreements to hedge our exposure to changes in future interest rates related to anticipated debt issuances. Valuations are based on external pricing sources and are classified as Level 2. Changes in the fair market values of these contracts are recognized in the Consolidated Financial Statements as a component of interest expense. We did not hold any interest rate derivative positions as of December 31, 2023 or 2022. Financial Instruments The carrying amounts and estimated fair values of our financial instruments are as follows:
For cash and cash equivalents, accounts receivable, net, accounts payable, structured accounts payable arrangements and short-term debt, the carrying amount approximates fair value because of the short-term maturity of those instruments. Included in long-term debt is floating rate debt of $500 million. Our floating rate debt is non-public and bears a variable SOFR based rate and consists of our borrowings under our term loan facility. The fair value of our floating rate debt approximates the carrying value and is estimated based on market-based inputs including interest rates and credit spreads, which results in a Level 2 classification. The fair value of fixed rate long-term debt, including the current portion, is estimated using quoted market prices for the publicly registered notes and debentures, classified as Level 1 and Level 2, respectively, within the fair value hierarchy, depending on the market liquidity of the debt. For information regarding the fair value of our marketable securities held in trusts, see Note 12 of our Notes to Consolidated Financial Statements.
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Guarantees and Indemnities |
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| Guarantees [Abstract] | |
| Guarantees and Indemnities | GUARANTEES AND INDEMNITIES We enter into various contracts that include indemnification and guarantee provisions as a routine part of our business activities. Examples of these contracts include asset purchase and sale agreements, surety bonds, financial assurances to regulatory agencies in connection with reclamation and closure obligations, commodity sale and purchase agreements, and other types of contractual agreements with vendors and other third parties. These agreements indemnify counterparties for matters such as reclamation and closure obligations, tax liabilities, environmental liabilities, litigation and other matters, as well as breaches by Mosaic of representations, warranties and covenants set forth in these agreements. In many cases, we are essentially guaranteeing our own performance, in which case the guarantees do not fall within the scope of the accounting and disclosures requirements under U.S. GAAP. Our maximum potential exposure under our indemnification arrangements can range from a specified dollar amount to an unlimited amount, depending on the nature of the transaction. Many of the guarantees and indemnities we issue to third parties do not limit the amount or duration of our obligations to perform under them. For these guarantees and indemnities, we may not be able to estimate what our liability would be until a claim is made for payment or performance due to the contingent nature of these arrangements. Based on our current understanding of the relevant facts, we do not believe that we will be required to make any material payments under these indemnity provisions.
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Pension Plans and Other Benefits |
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| Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Pension Plans And Other Benefits | PENSION PLANS AND OTHER BENEFITS We sponsor pension and postretirement benefits through a variety of plans, including defined benefit plans, defined contribution plans and postretirement benefit plans in North America and certain of our international locations. We reserve the right to amend, modify or terminate the Mosaic sponsored plans at any time, subject to provisions of the Employee Retirement Income Security Act of 1974 (“ERISA”), prior agreements and our collective bargaining agreements. Defined Benefit During fiscal 2022, we terminated the defined benefit pension plan in the U.S, which was frozen at the time of termination. In connection with the plan termination, we settled all future obligations under the terminated plan through a combination of lump-sum payments to eligible participants who elected to receive them through a lump-sum window, and the transfer of any remaining benefit obligations under the terminated plans to a third-party insurance company under a group annuity contract. As a result of these actions, we recognized a non-cash pre-tax pension settlement charge of $41.9 million in our 2022 Consolidated Statements of Earnings (Loss) in Other (expense) income. Upon completion of the remaining obligations related to the terminated plan, the remaining over-funded plan assets of $18.6 million as of December 31, 2023 will be utilized to fund obligations associated with other qualified retirement plans. We sponsor various defined benefit pension plans in Canada. Benefits are based on different combinations of years of service and compensation levels, depending on the plan. Generally, contributions to Canadian plans are made in accordance with the Pension Benefits Act instituted by the province of Saskatchewan. Certain employees in Canada, whose pension benefits exceed Canada Revenue Agency limitations, are covered by supplementary non-qualified, unfunded pension plans. During fiscal 2023, we terminated certain defined pension plans in Canada by transferring remaining benefit obligations for participants to a third-party insurance company under a group annuity contract. As a result of these actions, we recognized a non-cash pre-tax settlement charge of $42.4 million in our 2023 Consolidated Statements of Earnings (Loss) in Other (expense) income. We sponsor various defined benefit pension plans in Brazil, and we acquired multi-employer pension plans for certain of our Brazil associates. All our pension plans are governed by the Brazilian pension plans regulatory agency, National Superintendence of Supplementary Pensions. Our Brazil plans are not individually significant to the Company’s consolidated financial statements after factoring in the multi-employer pension plan indemnification that we acquired through an acquisition. We made contributions to these plans, net of indemnification, of $0.1 million and $0.2 million for the years ended December 31, 2023 and 2022, respectively. Accounting for Pension Plans The year-end status of the North American pension plans was as follows (the 2023 presentation excludes the terminated U.S. defined benefit plans, which had an ending benefit obligation of $0.0 million and $5.2 million as of December 31, 2023 and 2022, respectively, and ending plan assets of $18.6 million and $16.6 million as of December 31, 2023 and 2022, respectively):
The accumulated benefit obligation for the defined benefit pension plans was $119.6 million and $299.1 million as of December 31, 2023 and 2022, respectively. In 2024, we expect the related plans to pay benefit payments of approximately $3.9 million and to contribute cash of at least $0.8 million to the pension plans to meet minimum funding requirements. Plan Assets and Investment Strategies The Company’s overall investment strategy is to obtain sufficient return and provide adequate liquidity to meet the benefit obligations of our pension plans. The primary investment objective is to secure the promised pension benefits through capital preservation and appreciation to better manage the asset/liability gap and interest rate risk. A secondary investment objective is to most effectively manage investment volatility to reduce the variability of the Company’s required contributions. A significant amount of the assets are invested in funds that are managed by Mosaic’s investment advisor and reviewed by Mosaic management. Plan assets are primarily valued based on external pricing sources and are classified as Level 2. We do not have significant concentrations of credit risk or industry sectors within the plan assets. Fair value measurements of plan assets was $157.1 million at December 31, 2023 and was invested approximately 75% in fixed income securities, 20% in equity securities, and 5% in cash. Defined Contribution Plans Eligible salaried and non-union hourly employees in the U.S. participate in a defined contribution investment plan which permits employees to defer a portion of their compensation through payroll deductions and provides matching contributions. We match 100% of the first 3% of the participant’s contributed pay plus 50% of the next 3% of the participant’s contributed pay, subject to Internal Revenue Service limits. Participant contributions, matching contributions and the related earnings immediately vest. Mosaic also provides an annual non-elective employer contribution feature for eligible salaried and non-union hourly employees based on the employee’s age and eligible pay. Participants are generally vested in the non-elective employer contributions after three years of service. In addition, a discretionary feature of the plan allows the Company to make additional contributions to employees. Certain union employees participate in a defined contribution retirement plan based on collective bargaining agreements. Canadian salaried and non-union hourly employees participate in an employer funded plan with employer contributions similar to the U.S. plan. The plan provides a profit sharing component which is paid each year. We also sponsor one mandatory union plan in Canada. Benefits in these plans vest after two years of consecutive service. The expense attributable to defined contribution plans in the U.S. and Canada was $61.7 million, $55.7 million and $55.8 million for 2023, 2022 and 2021, respectively. Postretirement Medical Benefit Plans We provide certain health care benefit plans for certain retired employees (“Retiree Health Plans”) which may be either contributory or non-contributory and contain certain other cost-sharing features such as deductibles and coinsurance. The North American Retiree Health Plans are unfunded and the projected benefit obligation was $22.8 million and $22.6 million as of December 31, 2023 and 2022, respectively. This liability should continue to decrease due to our limited exposure. The related income statement effects of the Retiree Health Plans are not material to the Company. We anticipate contributing cash of at least $2.2 million in 2024 to the postretirement medical benefit plans to fund anticipated benefit payments. The year-end status of the Brazil postretirement medical benefit plans with a discount rate of 10.40% and 10.30% on each of December 31, 2023 and 2022, respectively was as follows:
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Accumulated Other Comprehensive Income |
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| Accumulated Other Comprehensive Income (Loss) Note | ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) (“AOCI”) The following table sets forth the changes in AOCI by component during the years ended December 31, 2023, 2022 and 2021:
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Share Repurchases |
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Dec. 31, 2023 | |
| Share-Based Payment Arrangement [Abstract] | |
| Share Repurchases [Text Block] | SHARE REPURCHASES In 2022, our Board of Directors approved two share repurchase programs (the “2022 Repurchase Programs”) for a total of $3.0 billion. Our repurchase programs allow the Company to repurchase shares of our Common Stock through open market purchases, accelerated share repurchase arrangements, privately negotiated transactions or otherwise and have no set expiration date. On February 24, 2023, pursuant to existing stock repurchase authorizations, we entered into an accelerated share repurchase agreement (the “2023 ASR Agreement”) with a third-party financial institution to repurchase $300 million of our Common Stock. At inception, we paid the financial institution $300 million and took initial delivery of 4,659,290 shares of our Common Stock, representing an estimated 80% of the total shares expected to be delivered under the 2023 ASR Agreement. In March 2023, the transaction was completed and we received an additional 965,284 shares of Common Stock. In total, 5,624,574 shares were delivered under the 2023 ASR Agreement, at an average purchase price of $53.34 per share. During the year ended December 31, 2023, under the 2022 Repurchase Programs, we repurchased 16,879,059 shares of Common Stock in the open market for approximately $748.0 million. This includes the 5,624,574 shares purchased under the 2023 ASR Agreement. On February 24, 2022, pursuant to existing stock repurchase authorizations, we entered into an accelerated share repurchase (the “2022 ASR Agreement”) agreement with a third-party financial institution to repurchase $400 million of our Common Stock. At inception, we paid the financial institution $400 million and took initial delivery of 7,056,229 shares of our Common Stock. Under the terms of the 2022 ASR Agreement, upon settlement, we would either receive additional shares from the financial institution or be required to deliver additional shares or cash to the financial institution. In the second quarter of 2022, the 2022 ASR Agreement was completed and we paid the financial institution an additional $54.2 million. When combining the initial $400 million paid at the inception of the 2022 ASR Agreement and the cash settlement of $54.2 million at the termination of the 2022 ASR Agreement, we repurchased 7,056,229 shares at an average repurchase price of $64.37 per share. During the year ended December 31, 2022, under the 2022 Repurchase Programs, we repurchased 30,810,173 shares of Common Stock in the open market for approximately $1.7 billion. This includes the 7,056,229 shares purchased under the 2022 ASR Agreement. The extent to which we repurchase our shares and the timing of any such repurchases depend on a number of factors, including market and business conditions, the price of our shares, our ability to access capital resources, our liquidity and corporate, regulatory and other considerations.
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Share-based Payments |
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| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payments | SHARE-BASED PAYMENTS The Mosaic Company 2023 Stock and Incentive Plan (the “2023 Stock and Incentive Plan”) was approved by our stockholders and became effective on May 25, 2023. It permits up to 18 million shares of common stock to be issued under share-based awards granted under this plan. The 2023 Stock and Incentive Plan provides for grants of stock options, restricted stock, restricted stock units, performance units and a variety of other share-based and non-share-based awards. Our employees, officers, directors, consultants, agents, advisors and independent contractors, as well as other designated individuals, are eligible to participate in the 2023 Stock and Incentive Plan. The Mosaic Company 2014 Stock and Incentive Plan (the “2014 Stock and Incentive Plan”) was approved by our stockholders and became effective on May 15, 2014. It permits up to 25 million shares of common stock to be issued under share-based awards granted under this plan. The 2014 Stock and Incentive Plan provides for grants of stock options, restricted stock, restricted stock units, performance units and a variety of other share-based and non-share-based awards. Our employees, officers, directors, consultants, agents, advisors and independent contractors, as well as other designated individuals, are eligible to participate in the 2014 Stock and Incentive Plan. The Mosaic Company 2004 Omnibus Stock and Incentive Plan (the “Omnibus Plan”), which was approved by our stockholders and became effective in 2004 and subsequently amended, provided for the grant of shares and share options to employees for up to 25 million shares of common stock. While awards may no longer be made under the Omnibus Plan, it will remain in effect with respect to the awards that had been granted thereunder prior to its termination. Mosaic settles stock option exercises, restricted stock units and certain performance units and performance shares with newly issued common shares. The Compensation Committee of the Board of Directors administers the 2014 Stock and Incentive Plan and the Omnibus Plan subject to their respective provisions and applicable law. Stock Options Stock options are granted with an exercise price equal to the market price of our stock at the date of grant and have a ten-year contractual term. The fair value of each option award is estimated on the date of the grant using the Black-Scholes option valuation model. Stock options generally vest in equal annual installments in the first three years following the date of grant (graded vesting). Stock options are expensed on a straight-line basis over the required service period, based on the estimated fair value of the award on the date of grant, net of estimated forfeitures. Valuation Assumptions Assumptions used to calculate the fair value of stock options awarded in 2017 are noted in the following table. There were no stock options granted or issued in 2023, 2022 or 2021. Expected volatility is based on the simple average of implied and historical volatility using the daily closing prices of the Company’s stock for a period equal to the expected term of the option. The risk-free interest rate is based on the U.S. Treasury rate at the time of the grant for instruments of comparable life.
A summary of the status of our stock options as of December 31, 2023, and activity during 2023, is as follows:
The outstanding and exercisable options as of December 31, 2023 includes 534,126 options issued from the 2014 Stock and Incentive Plan and 62,090 options issued from the Omnibus Plan. Restricted Stock Units Restricted stock units are issued to various employees, officers and directors at a value equal to the market price of our stock at the date of grant. The fair value of restricted stock units is equal to the market price of our stock at the date of grant. Restricted stock units generally cliff vest after three years of continuous service and are expensed on a straight-line basis over the required service period, based on the estimated grant date fair value, net of estimated forfeitures. A summary of the status of our restricted stock units as of December 31, 2023, and activity during 2023, is as follows:
Performance Units During the years ended December 31, 2023, 2022 and 2021, 1,206,263, 540,915 and 717,952 total stockholder return (“TSR”) performance units were granted, respectively. Final performance units are awarded based on the increase or decrease, subject to certain limitations, in Mosaic’s share price from the grant date to the third anniversary of the award, plus dividends (a measure of total stockholder return or TSR). The beginning and ending stock prices are based on a 30 trading-day average stock price. Holders of the awards must be employed at the end of the performance period in order for any units to vest, except in the event of death, disability or retirement at or after age 60, certain changes in control or the exercise of Committee or Board discretion as provided in the related award agreements. The fair value of each TSR performance unit is determined using a Monte Carlo simulation. This valuation methodology utilizes assumptions consistent with those of our other share-based awards and a range of ending stock prices; however, the expected term of the awards is three years, which impacts the assumptions used to calculate the fair value of performance units as shown in the table below. 354,500, 195,755 and 262,308 of the TSR performance awards issued in 2023, 2022 and 2021, respectively, are to be settled in cash, and are therefore accounted for as a liability with changes in value recorded through earnings during the service period. The remaining TSR performance units issued in 2023, 2022 and 2021 are considered equity-classified fixed awards measured at grant-date fair value and not subsequently re-measured. All of the TSR performance units cliff vest after three years of continuous service and are expensed on a straight-line basis over the required service period, based on the estimated grant date fair value of the award net of estimated forfeitures. A summary of the assumptions used to estimate the fair value of TSR performance units is as follows:
A summary of our performance unit activity during 2023 is as follows:
The outstanding performance units as of December 31, 2023 and 2022 include 500,393 and 791,624 cash-settled performance units, respectively. Share-Based Compensation Expense We recorded share-based compensation expense of $37.8 million, $61.1 million and $63.5 million for 2023, 2022 and 2021, respectively. The tax benefit related to share exercises and lapses in the year was $9.0 million, $7.5 million and $6.5 million for 2023, 2022 and 2021, respectively. As of December 31, 2023, there was $17.0 million of total unrecognized compensation cost related to options, restricted stock units and performance units and shares granted under the 2014 Stock and Incentive Plan and the Omnibus Plan. The unrecognized compensation cost is expected to be recognized over a weighted-average period of one year. No options vested in 2023, 2022 and 2021. We received $16.0 million from exercises of share-based payment arrangements for 2022. There was no cash received from exercises of share-based payment arrangements for 2023 and 2021. We incurred a tax benefit for tax deductions from options of $7.9 million, $13.4 million and $14.0 million in 2023, 2022 and 2021, respectively.
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Commitments |
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments | COMMITMENTS We lease certain plants, warehouses, terminals, office facilities, railcars and various types of equipment under operating leases, some of which include rent payment escalation clauses, with lease terms ranging from one to 43 years. In addition to minimum lease payments, some of our office facility leases require payment of our proportionate share of real estate taxes and building operating expenses. Our future obligations under these leases are included in Note 4 of our Notes to Consolidated Financial Statements. We also have purchase obligations to purchase goods and services, primarily for raw materials used in products sold to customers. In 2013, we entered into an ammonia supply agreement with CF that commenced in 2017, under which Mosaic agreed to purchase approximately 545,000 to 725,000 tonnes of ammonia per year at a price tied to the prevailing price of U.S. natural gas. On October 14, 2022, we received notice from CF to exercise the bilateral, contractual right to end the ammonia supply agreement in its current form, effective January 1, 2025. We have long-term agreements for the purchase of sulfur, which is used in the production of phosphoric acid, and natural gas, which is a significant raw material used primarily in the solution mining process in our Potash segment as well as in our phosphate concentrates plants. A schedule of future minimum long-term purchase commitments, based on expected market prices as of December 31, 2023 is as follows:
Purchases made under long-term commitments were $3.0 billion in 2023, $4.6 billion in 2022, and $3.1 billion in 2021. Most of our export sales of potash crop nutrients are marketed through a North American export association, Canpotex, which may fund its operations in part through third-party financing facilities. As a member, Mosaic or our subsidiaries are contractually obligated to reimburse Canpotex for their pro rata share of any operating expenses or other liabilities incurred. The reimbursements are made through reductions to members’ cash receipts from Canpotex. We incur liabilities for reclamation activities and Gypstack closures in our Florida and Louisiana operations where, in order to obtain necessary permits, we must either pass a test of financial strength or provide credit support, typically in the form of cash deposits, surety bonds or letters of credit. The surety bonds generally expire within one year or less but a substantial portion of these instruments provide financial assurance for continuing obligations and, therefore, in most cases, must be renewed on an annual basis. As of December 31, 2023, we had $765.9 million in surety bonds outstanding, of which $409.3 million is for reclamation obligations, primarily related to mining in Florida. In addition, included in the total amount is $303.1 million, reflecting our updated closure cost estimates, delivered to the EPA as a substitute for the financial assurance provided through the Plant City Trust. The remaining balance in surety bonds outstanding of $53.5 million is for other matters.
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Contingencies |
12 Months Ended |
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Dec. 31, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Contingencies | CONTINGENCIES We have described below the material judicial and administrative proceedings to which we are subject. Environmental Matters We have contingent environmental liabilities that arise principally from three sources: (i) facilities currently or formerly owned by our subsidiaries or their predecessors; (ii) facilities adjacent to currently or formerly owned facilities; and (iii) third-party Superfund or state equivalent sites. At facilities currently or formerly owned by our subsidiaries or their predecessors, the historical use and handling of regulated chemical substances, crop and animal nutrients and additives and by-product or process tailings have resulted in soil, surface water and/or groundwater contamination. Spills or other releases of regulated substances, subsidence from mining operations and other incidents arising out of operations, including accidents, have occurred previously at these facilities, and potentially could occur in the future, possibly requiring us to undertake or fund cleanup or result in monetary damage awards, fines, penalties, other liabilities, injunctions or other court or administrative rulings. In some instances, pursuant to consent orders or agreements with governmental agencies, we are undertaking certain remedial actions or investigations to determine whether remedial action may be required to address contamination. At other locations, we have entered into consent orders or agreements with appropriate governmental agencies to perform required remedial activities that will address identified site conditions. Taking into consideration established , as of December 31, 2023 and 2022, respectively, expenditures for these known conditions currently are not expected, individually or in the aggregate, to have a material effect on our business or financial condition. However, material expenditures could be required in the future to remediate the contamination at known sites or at other current or former sites or as a result of other environmental, health and safety matters. Below is a discussion of certain environmental matters. New Wales Phase II East Stack. In April 2022, we confirmed the presence of a cavity in and liner tear beneath the southern part of the active phosphogypsum stack at the Company’s New Wales facility in Florida which resulted in process water draining beneath the stack. The circumstances were reported to the FDEP and the EPA. Phase I of the repairs, consisting of stabilizing the cavity by depositing low pressure grout into it began in July 2022 and now is complete. Phase II will then inject high pressure grout beneath the stack to restore the geological confining layer beneath it. That work began in early in 2023 and is expected to conclude in the first quarter of 2024. As of December 31, 2023, we have a reserve of $32.3 million for the estimated repairs. We are unable to estimate at this time potential future additional financial impacts or a range of loss, if any, due to the ongoing evaluation. New Wales Phase II West Stack. In October 2023, we observed a series of seismic acoustic emissions and changes to piezometric water levels in a part of the Phase II West phosphogypsum stack at the New Wales, FL facility. These observations may be an indication of a breach in the stack liner system and were reported to the FDEP and EPA. We are developing and then will execute an investigation plan to evaluate conditions in the stack. The area of the stack is not in use for either process water storage or additional gypsum placement. It lies within a zone of capture of a recovery groundwater well, which is operating as intended. No offsite impacts are known or expected. As of December 31, 2023, we have a reserve of $59.4 million for estimated repairs. We are unable to estimate at this time potential future additional financial impacts or a range of loss, if any, due to the ongoing evaluation. EPA RCRA Initiative. We have certain financial assurance and other obligations under consent decrees and a separate financial assurance arrangement relating to our facilities in Florida and Louisiana. These obligations are discussed in Note 14 of our Notes to Consolidated Financial Statements. Other Environmental Matters. Superfund and equivalent state statutes impose liability without regard to fault or to the legality of a party’s conduct on certain categories of persons who are considered to have contributed to the release of “hazardous substances” into the environment. Under Superfund, or its various state analogues, one party may, under certain circumstances, be required to bear more than its proportionate share of cleanup costs at a site where it has liability if payments cannot be obtained from other responsible parties. Currently, certain of our subsidiaries are involved or concluding involvement at several Superfund or equivalent state sites. Our remedial liability from these sites, alone or in the aggregate, currently is not expected to have a material effect on our business or financial condition. As more information is obtained regarding these sites and the potentially responsible parties involved, this expectation could change. We believe that, pursuant to several indemnification agreements, our subsidiaries are entitled to at least partial, and in many instances complete, indemnification for the costs that may be expended by us or our subsidiaries to remedy environmental issues at certain facilities. These agreements address issues that resulted from activities occurring prior to our acquisition of facilities or businesses from parties including, but not limited to: ARCO (BP); Beatrice Fund for Environmental Liabilities; Conoco; Conserv; Estech, Inc.; Kaiser Aluminum & Chemical Corporation; Kerr-McGee Inc.; PPG Industries, Inc.; The Williams Companies; CF; and certain other private parties. Our subsidiaries have already received and anticipate receiving amounts pursuant to the indemnification agreements for certain of their expenses incurred to date as well as future anticipated expenditures. We record potential indemnifications as an offset to the established accruals when they are realizable or realized. The failure of an indemnitor to fulfill its obligations could result in future costs that could be material. Louisiana Parishes Coastal Zone Cases Several Louisiana parishes and the City of New Orleans have filed lawsuits against hundreds of oil and gas companies seeking regulatory, restoration and compensatory damages in connection with historical oil, gas and sulfur mining and transportation operations in the coastal zone of Louisiana. Mosaic is the corporate successor to certain companies which performed these types of operations in the coastal zone of Louisiana. Mosaic has been named in two of the lawsuits filed to date. In addition, in several other cases, historical oil, gas and sulfur operations which may have been related to Mosaic’s corporate predecessors have been identified in the complaints. Based upon information known to date, Mosaic has contractual indemnification rights against third parties for any loss or liability arising out of these claims pursuant to indemnification agreements entered into by Mosaic’s corporate predecessor(s) with third parties. There may also be insurance contracts which may respond to some or all of the claims. However, the financial ability of the third-party indemnitors, the extent of potential insurance coverage and the extent of potential liability from these claims is currently unknown. As of October 2022, a memorandum of understanding has been executed by the State of Louisiana and the plaintiff parishes that filed claims against Mosaic and its corporate predecessors on one hand, and Mosaic Global Holdings, Inc. and its third- party indemnitors on the other hand which, when fully implemented, will release and dismiss Mosaic and its corporate predecessors from the coastal zone cases. Funding obligations in the memorandum of understanding are expected to be undertaken by third-party indemnitors and/or insurers. Brazil Legal Contingencies Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings regarding labor, environmental, mining and civil claims that allege aggregate damages and/or fines of approximately $738.2 million. We estimate that our probable aggregate loss with respect to these claims is approximately $80.6 million, which is included in our accrued liabilities in our Consolidated Balance Sheets at December 31, 2023. Approximately $529.3 million of the maximum potential loss above, relates to labor claims of which approximately $67.0 million is included in accrued liabilities in our Consolidated Balance Sheets at December 31, 2023. Based on Brazil legislation and the current status of similar labor cases involving unrelated companies, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses. If the status of similar cases involving unrelated companies were to adversely change in the future, our maximum exposure could increase and additional accruals could be required. Brazil Tax Contingencies Our Brazilian subsidiaries are engaged in a number of judicial and administrative proceedings relating to various non-income tax matters. We estimate that our maximum potential liability with respect to these matters is approximately $608.9 million, of which $168.7 million is subject to an indemnification agreement entered into with Vale S.A in connection with an acquisition. Approximately $383.0 million of the maximum potential liability relates to a Brazilian federal value added tax, PIS and COFINS, and tax credit cases, while the majority of the remaining amount relates to various other non-income tax cases. The maximum potential liability can increase with new audits. Based on Brazil legislation and the current status of similar tax cases involving unrelated taxpayers, we believe we have recorded adequate loss contingency reserves sufficient to cover our estimate of probable losses, which are immaterial. If the status of similar tax cases involving unrelated taxpayer changes in the future, additional accruals could be required. Other Claims We also have certain other contingent liabilities with respect to judicial, administrative and arbitration proceedings and claims of third parties, including tax matters, arising in the ordinary course of business. We do not believe that any of these contingent liabilities will have a material adverse impact on our business or financial condition, results of operations, and cash flows.
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Related Party |
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| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions Disclosure [Text Block] | RELATED PARTY TRANSACTIONS We enter into transactions and agreements with certain of our non-consolidated companies and other related parties from time to time. As of December 31, 2023 and 2022, the net amount due to our non-consolidated companies totaled $0.8 million and $56.8 million, respectively. The Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
As part of the MWSPC joint venture, we market approximately 25% of the MWSPC production, for which approximately $17.5 million, $23.1 million and $12.2 million is included in revenue for the years ended December 31, 2023, 2022 and 2021, respectively.
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Business Segments |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Business Segments | BUSINESS SEGMENTS The reportable segments are determined by management based upon factors such as products and services, production processes, technologies, market dynamics, and for which segment financial information is available for our chief operating decision maker. For a description of our business segments see Note 1 of our Notes to Consolidated Financial Statements. We evaluate performance based on the operating earnings of the respective business segments, which includes certain allocations of corporate selling, general and administrative expenses. The segment results may not represent the actual results that would be expected if they were independent, stand-alone businesses. Intersegment eliminations, including profit on intersegment sales, mark-to-market gains/losses on derivatives, debt expenses, and the results of the China and India distribution business are included within Corporate, Eliminations and Other. Certain selling, general and administrative costs that are not controllable by the business segments are included within Corporate, Eliminations and Other. Segment information for the years 2023, 2022 and 2021 is as follows:
______________________________ (a)The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the years ended December 31, 2023, 2022 and 2021, distribution operations in India and China had revenues of $898.9 million, $1.1 billion, and $730.1 million, respectively, and gross margins of $(16.8) million, $130.9 million, and $141.6 million, respectively. Financial information relating to our operations by geographic area is as follows:
______________________________ (a)Revenues are attributed to countries based on location of customer. (b)Canpotex sales to the ultimate third-party customers are approximately: 35% to customers based in Brazil, 12% to customers based in China, 9% to customers based in Bangladesh, 7% to customers based in India, and 37% to customers based in the rest of the world.
Excluded from the table above as of December 31, 2023 and 2022, are goodwill of $1,138.6 million and $1,116.3 million and deferred income tax assets of $1,079.2 million and $752.3 million, respectively. Net sales by product type for the years 2023, 2022 and 2021 are as follows:
______________________________ (a)Includes sales of MicroEssentials®, K-Mag® and Aspire®. (b)Includes sales of industrial potash, feed products, nitrogen and other products.
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Plant City and Colonsay Closure Costs |
12 Months Ended |
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Dec. 31, 2023 | |
| Plant City and Colonsay Closure Costs [Abstract] | |
| Restructuring, Impairment, and Other Activities Disclosure [Text Block] | MINE CLOSURE COSTSDue to increased brine inflows, on June 4, 2021, the Company made the decision to accelerate the timing of the shutdown of our K1 and K2 mine shafts at our Esterhazy, Saskatchewan potash mine. Closing the K1 and K2 shafts are key pieces of the transition to the K3 shaft, but the timeline for the closure was accelerated by approximately nine months. In 2021, we had pre-tax costs of $158.1 million related to the permanent closure of these facilities. These costs consisted of $109.9 million related to the write-off of fixed assets, $37.1 million related to AROs, and $11.1 million related to inventory and other reserves. |
Pay vs Performance Disclosure - USD ($) $ in Millions |
12 Months Ended | ||
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Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
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| Pay vs Performance Disclosure | |||
| Net earnings attributable to Mosaic | $ 1,164.9 | $ 3,582.8 | $ 1,630.6 |
Insider Trading Arrangements |
3 Months Ended |
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Dec. 31, 2023 | |
| Trading Arrangements, by Individual | |
| Rule 10b5-1 Arrangement Adopted | false |
| Non-Rule 10b5-1 Arrangement Adopted | false |
| Rule 10b5-1 Arrangement Terminated | false |
| Non-Rule 10b5-1 Arrangement Terminated | false |
Significant Accounting Policies |
12 Months Ended |
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Dec. 31, 2023 | |
| Accounting Policies [Abstract] | |
| Statement of Presentation and Basis of Consolidation | Statement Presentation and Basis of Consolidation The accompanying Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Throughout the Notes to Consolidated Financial Statements, amounts in tables are in millions of dollars except for per share data and as otherwise designated. The accompanying Consolidated Financial Statements include the accounts of Mosaic and its majority-owned subsidiaries. Certain investments in companies in which we do not have control but have the ability to exercise significant influence are accounted for by the equity method.
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| Accounting Estimates | Accounting Estimates Preparation of the Consolidated Financial Statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of net sales and expenses during the reporting periods. The most significant estimates made by management relate to the recoverability of non-current assets including goodwill, the useful lives and net realizable values of long-lived assets, environmental and reclamation liabilities, including asset retirement obligations (“ARO”), and income tax-related accounts, including the valuation allowance against deferred income tax assets. Actual results could differ from these estimates
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| Revenue Recognition | Revenue Recognition We generate revenues primarily by producing and marketing phosphate and potash crop nutrients. Revenue is recognized when control of the product is transferred to the customer, which is generally upon transfer of title to the customer based on the contractual terms of each arrangement. Title is typically transferred to the customer upon shipment of the product. In certain circumstances, which are referred to as final price deferred arrangements, we ship product prior to the establishment of a valid sales contract. In such cases, we retain control of the product and do not recognize revenue until a sales contract has been agreed to with the customer. Revenue is measured as the amount of consideration we expect to receive in exchange for the transfer of our goods. Our products are generally sold based on market prices prevailing at the time the sales contract is signed or through contracts which are priced at the time of shipment, except for the final priced deferred arrangements discussed above. Sales incentives are volumetric based annual programs and recorded as a reduction of revenue at the time of sale. We estimate the variable consideration related to our sales incentive programs based on the sales terms with customers and historical experience. Historically, sales incentives have represented 1% or less of total revenue and there have not been significant adjustments to such estimates in the financial statements. We sell Canadian-sourced potash outside Canada and the U.S. exclusively through Canpotex distribution. Canpotex sells potash to buyers in export markets pursuant to term and spot contracts at agreed upon prices. For sales through this channel, our revenue is recognized at the amount received from Canpotex representing proceeds from their sale of potash, less net costs of Canpotex. Sales are recognized when control is transferred to Canpotex, typically upon shipment of the product to Canpotex, and adjusted at the end of each reporting period based upon the updated estimated pricing or final pricing from Canpotex. Prior to final pricing, revenue is recognized only to the extent that it is probable a significant reversal of revenue will not occur. The constraint is estimated each period based on historical experience, market trends and industry data. The estimated constraint is not material to the Company's financial statements. Due to our membership in Canpotex, we eliminate the intra-entity profit with Canpotex at the end of each reporting period and present that profit elimination by reversing revenue and cost of goods sold for the inventory remaining at Canpotex. For more information regarding our relationship with Canpotex and accounting considerations, see Note 9 of our Notes to Consolidated Financial Statements. For information regarding sales by product type and by geographic area, see Note 25 of our Notes to Consolidated Financial Statements. The timing of recognition of revenue related to our performance obligations may be different than the timing of collection of cash related to those performance obligations. Specifically, we collect prepayments from certain customers in Brazil. In addition, cash collection from Canpotex may occur prior to delivery of product to the end customer. We generally satisfy our contractual liabilities within one quarter of incurring the liability. Other key revenue recognition accounting policies include: •Shipping and handling costs are included as a component of cost of goods sold. •We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within sales and marketing expenses. •We have elected to recognize the cost for freight and shipping as an expense in cost of sales, when control over the product has passed to the customer.
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| Non-Income Taxes | Non-Income Taxes We pay Canadian resource taxes consisting of the Potash Production Tax and resource surcharge. The Potash Production Tax is a Saskatchewan provincial tax on potash production and consists of a base payment and a profits tax. In addition to the Canadian resource taxes, royalties are payable to the mineral owners with respect to potash reserves or production of potash. These resource taxes and royalties are recorded in our cost of goods sold. Our Canadian resource tax and royalty expenses were $457.0 million, $1.0 billion and $301.5 million during 2023, 2022 and 2021, respectively. We have approximately $136.5 million of assets recorded as of December 31, 2023 related to PIS and Cofins, which is a Brazilian federal value-added tax. This amount was mostly earned in 2008 through 2022; we believe that it will be realized through offsetting income tax payments or other federal taxes or receiving cash refunds. As of December 31, 2022 we had approximately $105.0 million of assets recorded for these matters. Should the Brazilian government determine that these are not valid credits upon audit, this could impact our results in such period. We have recorded the PIS and Cofins credits at amounts which we believe are probable of collection. Information regarding PIS and Cofins taxes already audited is included in Note 23 of our Notes to Consolidated Financial Statements.
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| Foreign Currency Translation | Foreign Currency Translation The Company’s reporting currency is the U.S. dollar; however, for operations located in Canada and Brazil, the functional currency is the local currency. Assets and liabilities of these foreign operations are translated to U.S. dollars at exchange rates in effect at the balance sheet date, while income statement accounts and cash flows are translated to U.S. dollars at the 2average exchange rates for the period. For these operations, translation gains and losses are recorded as a component of accumulated other comprehensive income in equity until the foreign entity is sold or liquidated. Transaction gains and losses result from transactions that are denominated in a currency other than the functional currency of the operation, primarily accounts receivable and intercompany loans in our Canadian entities denominated in U.S. dollars, intercompany loans receivable in our U.S. entities denominated in Brazilian real, and accounts payable in Brazil denominated in U.S. dollars. These foreign currency transaction gains and losses are presented separately in the Consolidated Statement of Earnings.
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| Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents include short-term, highly liquid investments with original maturities of 90 days or less and other highly liquid investments that are payable on demand such as money market accounts, certain certificates of deposit and repurchase agreements. The carrying amount of such cash equivalents approximates their fair value due to the short-term and highly liquid nature of these instruments.
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| Concentration Risk, Credit Risk, Policy | Concentration of Credit Risk In the U.S., we sell our products to manufacturers, distributors and retailers, primarily in the Midwest and Southeast. Internationally, our potash products are sold primarily through Canpotex, an export association. A concentration of credit risk arises from our sales and accounts receivable associated with the international sales of potash product through Canpotex. We consider our concentration risk related to the Canpotex receivable to be mitigated by their credit policy, which requires the underlying receivables to be substantially insured or secured by letters of credit. As of December 31, 2023 and 2022, there were $193.1 million and $244.4 million, respectively, of trade accounts receivable due from Canpotex. During 2023, 2022 and 2021, sales to Canpotex were $1.3 billion, $3.0 billion and $1.1 billion, respectively.
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| Inventories | Inventories Inventories of raw materials, work-in-process products, finished goods and operating materials and supplies are stated at the lower of cost or net realizable value. Costs for substantially all inventories are determined using the weighted average cost basis. To determine the cost of inventory, we allocate fixed expense to the costs of production based on the normal capacity, which refers to a range of production levels and is considered the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. Fixed overhead costs allocated to each unit of production should not increase due to abnormally low production. Those excess costs are recognized as a current period expense. When a production facility is completely shut down temporarily, it is considered “idle”, and all related expenses are charged to cost of goods sold. Net realizable value of our inventory is defined as forecasted selling prices less reasonably predictable selling costs. Significant management judgment is involved in estimating forecasted selling prices including various demand and supply variables. Examples of demand variables include grain and oilseed prices, stock-to-use ratios and changes in inventories in the crop nutrients distribution channels. Examples of supply variables include forecasted prices of raw materials, such as phosphate rock, sulfur, ammonia and natural gas, estimated operating rates and industry crop nutrient inventory levels. Results could differ materially if actual selling prices differ materially from forecasted selling prices. Charges for lower of cost or market are recognized in our Consolidated Statements of Earnings in the period when there is evidence of a decline of market value below cost.
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| Property, Plant and Equipment and Recoverability of Long-Lived Assets | Property, Plant and Equipment and Recoverability of Long-Lived Assets Property, plant and equipment are stated at cost. Costs of significant assets include capitalized interest incurred during the construction and development period. Repairs and maintenance, including planned major maintenance and plant turnaround costs, are expensed when incurred. Currently, we do not have any material exploration or development stage mining projects. When we transition to new mining areas within our current properties, we incur minimal pre-mining costs related to the permitting process and land preparation activities, such as water management control and construction of roads and access points. These costs are capitalized as part of our mineral properties and rights. Mineral properties and rights at our operations include mineral reserves and mineral resources. Mineral resources have not yet been scheduled in formal mine plans and therefore are not subject to depletion. Depletion expenses for mining operations, including mineral reserves, are generally determined using the units-of-production method based on estimates of proven and probable reserves. Depreciation is computed principally using the straight-line method and units-of-production method over the following useful lives: machinery and equipment: to 25 years; and buildings and leasehold improvements: to 40 years. We estimate initial useful lives based on experience and current technology. These estimates may be extended through sustaining capital programs. Factors affecting the fair value of our assets or periods of expected use may also affect the estimated useful lives of our assets and these factors can change. Therefore, we periodically review the estimated remaining lives of our facilities and other significant assets and adjust our depreciation rates prospectively where appropriate. Long-lived assets, including fixed assets and right-of-use assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment assessment involves management judgment and estimates of factors such as industry and market conditions, the economic life of the asset, sales volume and prices, inflation, raw materials costs, cost of capital, tax rates and capital spending. The carrying amount of a long-lived asset group is not recoverable if it exceeds the sum of the undiscounted cash flows expected to result from the use and eventual disposition of the asset group. If it is determined that an impairment loss has occurred, the loss is measured as the amount by which the carrying amount of the long-lived asset group exceeds its fair value.
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| Lease, Policy | Leases Right of use (“ROU”) assets represent our right to use an underlying asset for the lease term. Lease liabilities represent our obligation to make lease payments arising from the lease. Operating lease ROU assets and liabilities are recognized at the commencement date of the lease, based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments. The Company’s incremental borrowing rate for a lease is the rate of interest it would have to pay on a collateralized basis to borrow an amount equal to the lease payments under similar terms. For both operating and finance leases, the initial ROU asset equals the lease liability, plus initial direct costs, less lease incentives received. Our lease agreements may include options to extend or terminate the lease, which are included in the lease term at the commencement date when it is reasonably certain that we will exercise that option. In general, we do not consider optional periods included in our lease agreements as reasonably certain of exercise at inception. At inception, we determine whether an arrangement is a lease and the appropriate lease classification. Operating leases with terms greater than twelve months are included as operating lease ROU assets within other assets and the associated lease liabilities within accrued liabilities and other noncurrent liabilities on our consolidated balance sheets. Finance leases with terms greater than twelve months are included as finance ROU assets within property and equipment and the associated finance lease liabilities within current maturities of long-term debt and long-term debt on our consolidated balance sheets. Leases with terms of less than twelve months, referred to as short-term leases, do not create a ROU asset or lease liability on the balance sheet. We have lease agreements with lease and non-lease components, which are generally accounted for separately. For full-service railcar leases, we account for the lease and non-lease components as a single lease component. Additionally, for certain equipment leases, we apply assumptions using a portfolio approach, given the generally consistent terms of the agreements. Lease payments based on usage (for example, per-mile or per-hour charges), referred to as variable lease costs, are recorded separately from the determination of the ROU asset and lease liability.
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| Contingencies | Contingencies Accruals for environmental remediation efforts are recorded when costs are probable and can be reasonably estimated. In determining these accruals, we use the most current information available, including similar past experiences, available technology, consultant evaluations, regulations in effect, the timing of remediation and cost-sharing arrangements. Adjustments to accruals, recorded as needed in our Consolidated Statement of Earnings each quarter, are made to reflect changes in and current status of these factors. We are involved from time to time in claims and legal actions incidental to our operations, both as plaintiff and defendant. We have established what we currently believe to be adequate accruals for pending legal matters. These accruals are established as part of an ongoing worldwide assessment of claims and legal actions that takes into consideration such items as advice of legal counsel, individual developments in court proceedings, changes in the law, changes in business focus, changes in the litigation environment, changes in opponent strategy and tactics, new developments as a result of ongoing discovery and our experience in defending and settling similar claims. The litigation accruals at any time reflect updated assessments of the then-existing claims and legal actions. The final outcome or potential settlement of litigation matters could differ materially from the accruals which we have established. Legal costs are expensed as incurred.
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| Pension and Other Postretirement Benefits | Pension and Other Postretirement Benefits Mosaic offers a number of benefit plans that provide pension and other benefits to qualified employees. These plans include defined benefit pension plans, supplemental pension plans, defined contribution plans and other postretirement benefit plans. We accrue the funded status of our plans, which is representative of our obligations under employee benefit plans and the related costs, net of plan assets measured at fair value. The cost of pensions and other retirement benefits earned by employees is generally determined with the assistance of an actuary using the projected benefit method prorated on service and management’s best estimate of expected plan investment performance, salary escalation, retirement ages of employees and expected healthcare costs.
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Investments, All Other Investments (Policies) |
12 Months Ended |
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Dec. 31, 2023 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| Investments in Non-consolidated Companies | We have investments in various international and domestic entities and ventures. The equity method of accounting is applied to such investments when the ownership structure prevents us from exercising a controlling influence over operating and financial policies of the businesses but still allow us to have significant influence. Under this method, our equity in the net earnings or losses of the investments is reflected as equity in net earnings of non-consolidated companies on our Consolidated Statements of Earnings. The effects of material intercompany transactions with these equity method investments are eliminated, including the gross profit on sales to and purchases from our equity-method investments which is deferred until the time of sale to the final third-party customer. The cash flow presentation of dividends received from equity method investees is determined by evaluation of the facts, circumstances and nature of the distribution.
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Goodwill (Policies) |
12 Months Ended |
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Dec. 31, 2023 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Goodwill | Goodwill is carried at cost, not amortized, and represents the excess of the purchase price and related costs over the fair value assigned to the net identifiable assets of a business acquired. We test goodwill for impairment on a quantitative basis at the reporting unit level on an annual basis or upon the occurrence of events that may indicate possible impairment. Impairment is measured as the excess carrying value over the fair value of goodwill.
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Debt (Policies) |
12 Months Ended |
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Dec. 31, 2023 | |
| Debt Disclosure [Abstract] | |
| Structured Accounts Payable Arrangements | In Brazil, we finance some of our potash-based fertilizer, sulfur, ammonia and other raw material product purchases through third-party contractual arrangements. These arrangements provide that the third-party intermediary advance the amount of the scheduled payment to the vendor, less an appropriate discount, at a scheduled payment date and Mosaic makes payment to the third-party intermediary at dates ranging from 98 to 182 days from date of shipment. At December 31, 2023 and 2022, these structured accounts payable arrangements were $399.9 million and $751.2 million, respectively.
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Income Taxes (Policies) |
12 Months Ended |
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Dec. 31, 2023 | |
| Income Tax Disclosure [Abstract] | |
| Income Taxes | In preparing our Consolidated Financial Statements, we utilize the asset and liability approach in accounting for income taxes. We recognize income taxes in each of the jurisdictions in which we have a presence. For each jurisdiction, we estimate the actual amount of income taxes currently payable or receivable, as well as deferred income tax assets and liabilities attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date.
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Leases (Tables) |
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| Schedule of Lease Assets and Liabilities [Table Text Block] | Our leases have remaining lease terms of one year to 39 years, some of which include options to extend the lease for up to 20 years and some of which include options to terminate the lease within one year. Supplemental balance sheet information related to leases as of December 31, 2023 and December 31, 2022 is as follows:
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| Lease, Cost [Table Text Block] | The components of lease expense were as follows:
Rental expense for 2023, 2022 and 2021 was $252.1 million, $237.2 million and $211.8 million, respectively. Supplemental cash flow information related to leases was as follows: Other information related to leases was as follows:
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| Schedule of Future Minimum Lease Payments for Operating and Finance Leases [Table Text Block] | Future lease payments under non-cancellable leases recorded as of December 31, 2023, were as follows:
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Other Financial Statement Data (Tables) |
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| Balance Sheet Related Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Other Assets and Other Liabilities | The following provides additional information concerning selected balance sheet accounts:
______________________________ (a)Final price deferred is product that has shipped to customers, but we retain control and do not recognize revenue until a sales contract has been agreed to with the customer. (b)Implementation costs eligible for capitalization related to cloud computing arrangements that are a service contract are recorded within Prepaid expenses and Other assets in the Consolidated Balance Sheets and amortized over the reasonably certain term of the associated hosting arrangement. Capitalized implementation costs expensed were not material in 2023.
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| Schedule of Other Nonoperating Income (Expense) | Interest expense, net was comprised of the following in 2023, 2022 and 2021:
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Property, Plant and Equipment (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property, Plant and Equipment [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property Plant And Equipment | Property, plant and equipment consist of the following:
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of earnings per share | The following is a reconciliation of the numerator and denominator for the basic and diluted EPS computations:
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Cash Flow Information (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Supplemental Cash Flow Elements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Cash Flow Supplemental Disclosures Table | Supplemental disclosures of cash paid for interest and income taxes and non-cash investing and financing information is as follows:
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Investments in Non-Consolidated Companies (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity Method Investments and Joint Ventures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Equity Method Investments | A summary of our equity-method investments, which were in operation as of December 31, 2023, is as follows:
The summarized financial information shown below includes all non-consolidated companies carried on the equity method.
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Goodwill (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill and Intangible Assets Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Goodwill | The changes in the carrying amount of goodwill, by reporting unit, as of December 31, 2023 and 2022, are as follows:
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Financing Arrangements (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of long-term debt, including current maturites | Long-term debt as of December 31, 2023 and 2022, respectively, consisted of the following:
______________________________ (a) Includes deferred financing fees related to our long-term debt.
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| Scheduled maturities of long-term debt | Scheduled maturities of long-term debt are as follows for the periods ending December 31:
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Marketable Securities Held in Trusts (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Securities, Available-for-sale | The estimated fair value of the investments in the RCRA Trusts as of December 31, 2023 and December 31, 2022 are as follows:
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| Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value | The following tables show gross unrealized losses and fair values of the RCRA Trusts’ available-for-sale securities that have been in a continuous unrealized loss position for which an allowance for credit losses has not been recorded as of December 31, 2023 and December 31, 2022.
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| Schedule of maturity dates for debt securities | The following table summarizes the balance by contractual maturity of the available-for-sale debt securities invested by the RCRA Trusts as of December 31, 2023. Actual maturities may differ from contractual maturities because the issuers of the securities may have the right to prepay obligations before the underlying contracts mature.
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Income Taxes (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Provision For Income Taxes | The provision for income taxes for 2023, 2022 and 2021 consisted of the following:
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| Schedule Of Effective Income Tax Rate | The components of earnings from consolidated companies before income taxes, and the effects of significant adjustments to tax computed at the federal statutory rate, were as follows:
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| Schedule Of Deferred Tax Assets And Liabilities | Significant components of our deferred tax liabilities and assets were as follows as of December 31:
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| Summary Of Income Tax Uncertainties | A summary of gross unrecognized tax benefit activity is as follows:
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| Summary of Valuation Allowance | Changes to our income tax valuation allowance were as follows:
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Asset Retirement Obligations (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Asset Retirement Obligation Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Asset Retirement Obligations | A reconciliation of our AROs is as follows:
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Derivative Instruments and Hedging Activities (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Derivative Instruments Notional Amounts | The following is the total absolute notional volume associated with our outstanding derivative instruments:
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The carrying amounts and estimated fair values of our financial instruments are as follows:
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Pension Plans and Other Benefits (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Defined Benefit Plans Disclosures | The year-end status of the North American pension plans was as follows (the 2023 presentation excludes the terminated U.S. defined benefit plans, which had an ending benefit obligation of $0.0 million and $5.2 million as of December 31, 2023 and 2022, respectively, and ending plan assets of $18.6 million and $16.6 million as of December 31, 2023 and 2022, respectively):
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| Schedule of Changes in Accumulated Postemployment Benefit Obligations | The year-end status of the Brazil postretirement medical benefit plans with a discount rate of 10.40% and 10.30% on each of December 31, 2023 and 2022, respectively was as follows:
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Accumulated other Comprehensive Income (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accumulated Other Comprehensive Income [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table sets forth the changes in AOCI by component during the years ended December 31, 2023, 2022 and 2021:
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Share-based Payments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions | Assumptions used to calculate the fair value of stock options awarded in 2017 are noted in the following table. There were no stock options granted or issued in 2023, 2022 or 2021. Expected volatility is based on the simple average of implied and historical volatility using the daily closing prices of the Company’s stock for a period equal to the expected term of the option. The risk-free interest rate is based on the U.S. Treasury rate at the time of the grant for instruments of comparable life.
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| Schedule of Share-based Compensation, Stock Options, Activity | A summary of the status of our stock options as of December 31, 2023, and activity during 2023, is as follows:
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| Schedule of Share-based Compensation, Restricted Stock Units Award Activity | A summary of the status of our restricted stock units as of December 31, 2023, and activity during 2023, is as follows:
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| Schedule Of Nonvested Performance Based Units Valuation Assumptions | A summary of the assumptions used to estimate the fair value of TSR performance units is as follows:
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| Schedule of Nonvested Performance-based Units Activity | A summary of our performance unit activity during 2023 is as follows:
The outstanding performance units as of December 31, 2023 and 2022 include 500,393 and 791,624 cash-settled performance units, respectively.
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Commitments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of commitments and contingencies | A schedule of future minimum long-term purchase commitments, based on expected market prices as of December 31, 2023 is as follows:
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Related Party (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Related Party Transactions [Table Text Block] | The Consolidated Statements of Earnings included the following transactions with our non-consolidated companies:
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Business Segments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of segment reporting by segment | Segment information for the years 2023, 2022 and 2021 is as follows:
______________________________ (a)The “Corporate, Eliminations and Other” category includes the results of our ancillary distribution operations in India and China. For the years ended December 31, 2023, 2022 and 2021, distribution operations in India and China had revenues of $898.9 million, $1.1 billion, and $730.1 million, respectively, and gross margins of $(16.8) million, $130.9 million, and $141.6 million, respectively.
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| Revenue from external customers by geographic areas | Financial information relating to our operations by geographic area is as follows:
______________________________ (a)Revenues are attributed to countries based on location of customer. (b)Canpotex sales to the ultimate third-party customers are approximately: 35% to customers based in Brazil, 12% to customers based in China, 9% to customers based in Bangladesh, 7% to customers based in India, and 37% to customers based in the rest of the world.
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| Financial information relating to our operations by geographic area |
Excluded from the table above as of December 31, 2023 and 2022, are goodwill of $1,138.6 million and $1,116.3 million and deferred income tax assets of $1,079.2 million and $752.3 million, respectively.
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| Sales by product type | Net sales by product type for the years 2023, 2022 and 2021 are as follows:
______________________________ (a)Includes sales of MicroEssentials®, K-Mag® and Aspire®. (b)Includes sales of industrial potash, feed products, nitrogen and other products.
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Organization and Nature of Business (Details) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Jan. 08, 2018 |
|
| Schedule of Equity Method Investments | ||
| Percentage Of Total Production Expected To Market | 25.00% | |
| Miski Mayo Joint Venture | ||
| Schedule of Equity Method Investments | ||
| Business Combination, Step Acquisition, Equity Interest in Acquiree, Including Subsequent Acquisition, Percentage | 75.00% | |
| MWSPC | ||
| Schedule of Equity Method Investments | ||
| Percentage Of Total Production Expected To Market | 25.00% | |
| MWSPC | MWSPC | ||
| Schedule of Equity Method Investments | ||
| Equity method investment, ownership percentage | 25.00% |
Other Financial Statement Data (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||
|---|---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|||||
| Receivables, Net, Current [Abstract] | |||||||
| Trade | $ 940.9 | $ 1,242.8 | |||||
| Accounts Receivable, before Allowance for Credit Loss, Related Party, Current | 194.6 | 249.6 | |||||
| Non-trade | 134.4 | 208.4 | |||||
| Accounts Receivable, before Allowance for Credit Loss | 1,269.9 | 1,700.8 | |||||
| Less: Allowance for doubtful accounts | 0.7 | 0.9 | |||||
| Current receivables, net | 1,269.2 | 1,699.9 | |||||
| Inventories | |||||||
| Raw materials | 135.8 | 177.2 | |||||
| Work in process | 964.8 | 844.8 | |||||
| Finished goods | 1,178.0 | 2,158.3 | |||||
| Deferred Costs | [1] | 61.5 | 184.2 | ||||
| Operating materials and supplies | 183.1 | 178.6 | |||||
| Inventory, net | 2,523.2 | 3,543.1 | |||||
| Other current assets | |||||||
| Income and other taxes receivable | 269.3 | 189.4 | |||||
| Prepaid expenses | 284.3 | 237.4 | |||||
| Assets Held-for-sale, Not Part of Disposal Group, Current | 0.0 | 101.9 | |||||
| Other | 50.2 | 49.5 | |||||
| Total other current assets | 603.8 | 578.2 | |||||
| Other Assets | |||||||
| Restricted cash | 3.4 | 10.5 | $ 8.5 | ||||
| MRO inventory | 166.3 | 141.9 | |||||
| Debt Securities, Available-for-sale, Restricted | 708.6 | 666.0 | |||||
| Operating Lease, Right-of-Use Asset | $ 229.8 | $ 182.5 | |||||
| Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets, Noncurrent | Other Assets, Noncurrent | |||||
| Indemnification asset | $ 20.9 | $ 23.7 | |||||
| Long-term receivable | 21.8 | 26.9 | |||||
| Cloud computing asset | [2] | 138.9 | 32.9 | ||||
| Other | 285.9 | 311.8 | |||||
| Other Assets, Noncurrent | 1,575.6 | 1,396.2 | |||||
| Accrued liabilities | |||||||
| Accrued dividends | 72.3 | 72.9 | |||||
| Payroll and employee benefits | 182.6 | 237.0 | |||||
| Asset retirement obligations | 377.4 | 212.3 | |||||
| Customer prepayments | 261.8 | 743.9 | |||||
| Accrued Income Taxes | 190.0 | 208.3 | |||||
| Operating Lease, Liability, Current | 65.3 | 50.7 | |||||
| Other | 627.7 | 754.8 | |||||
| Total accrued liabilities, current | 1,777.1 | 2,279.9 | |||||
| Other noncurrent liabilities | |||||||
| Asset retirement obligations | 1,836.0 | 1,693.3 | |||||
| Operating Lease, Liability, Noncurrent | 168.1 | 135.2 | |||||
| Accrued pension and postretirement benefits | 119.7 | 103.3 | |||||
| Unrecognized tax benefits | 30.5 | 32.5 | |||||
| Other | 274.9 | 271.7 | |||||
| Total other noncurrent liabilities | 2,429.2 | 2,236.0 | |||||
| Interest expense, net was comprised of the following: | |||||||
| Interest income | 59.6 | 31.0 | 25.2 | ||||
| Less interest expense | 189.0 | 168.8 | 194.3 | ||||
| Interest expense, net | $ (129.4) | $ (137.8) | $ (169.1) | ||||
| |||||||
Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Earnings Per Share [Abstract] | |||
| Net earnings attributable to Mosaic | $ 1,164.9 | $ 3,582.8 | $ 1,630.6 |
| Basic weighted average number of shares outstanding (in shares) | 331.3 | 352.4 | 378.1 |
| Dilutive impact of share-based awards (in shares) | 1.9 | 3.6 | 3.5 |
| Diluted weighted average number of shares outstanding (in shares) | 333.2 | 356.0 | 381.6 |
| Basic net (loss) earnings per share (in usd per share) | $ 3.52 | $ 10.17 | $ 4.31 |
| Diluted net (loss) earnings per share (in usd per share) | $ 3.50 | $ 10.06 | $ 4.27 |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 0.5 | 0.1 | 0.5 |
Cash Flow Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Cash paid (received) during the period for: | |||
| Interest Paid, Including Capitalized Interest, Operating and Investing Activities | $ 204.7 | $ 196.4 | $ 220.0 |
| Interest Paid, Capitalized, Investing Activities | 35.2 | 26.8 | 30.1 |
| Interest Paid, Excluding Capitalized Interest, Operating Activities | 169.5 | 169.6 | 189.9 |
| Income taxes | 385.6 | 1,114.5 | 208.6 |
| Increase Decrease in Capital Expenditures Incurred But Not Yet Paid | (19.5) | (65.2) | 18.6 |
| Accrued dividends | 72.3 | 72.9 | |
| Dividends payable | 72.9 | 43.6 | |
| Proceeds from Short-Term Debt, Maturing in More than Three Months | 9,600.0 | ||
| Repayments of Short-Term Debt, Maturing in More than Three Months | 9,500.0 | ||
| Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 35.8 | 27.2 | 8.9 |
| Equipment Obtained In Exchange Of Operating Lease Right-Of-Use Asset | 43.0 | ||
| Depreciation | 958.9 | 932.1 | 811.8 |
| Amortization of Intangible Assets | $ 1.7 | $ 1.8 | $ 1.1 |
Investments in Non-Consolidated Companies - MWSPC Joint Venture (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Jul. 01, 2016 |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Schedule of Equity Method Investments | ||||
| Equity in net earnings of nonconsolidated companies | $ 60.3 | $ 196.0 | $ 7.8 | |
| Percentage Of Total Production Expected To Market | 25.00% | |||
| Investments in nonconsolidated companies | $ 909.0 | 885.9 | ||
| Equity Method Investee | MWSPC | ||||
| Schedule of Equity Method Investments | ||||
| Payments to Acquire Equity Method Investments | $ 120.0 | |||
| Proportion of assets represented by MWSPC | 77.00% | |||
| Proportion of liabilities represented by MWSPC | 68.00% | |||
| Equity in net earnings of nonconsolidated companies | $ 57.6 | $ 194.5 | $ 5.0 | |
| Percentage Of Total Production Expected To Market | 25.00% | |||
| Investments in nonconsolidated companies | $ 770.0 | |||
Goodwill (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Goodwill [Line Items] | ||
| Beginning balance | $ 1,116.3 | $ 1,172.2 |
| Goodwill, Foreign Currency Translation Gain (Loss) | 22.3 | (55.9) |
| Ending balance | 1,138.6 | 1,116.3 |
| Goodwill determined to be tax deductible | 46.2 | |
| Potash Segment | ||
| Goodwill [Line Items] | ||
| Beginning balance | 1,006.6 | 1,064.2 |
| Goodwill, Foreign Currency Translation Gain (Loss) | 20.3 | (57.6) |
| Ending balance | 1,026.9 | 1,006.6 |
| Mosaic Fertilizantes | ||
| Goodwill [Line Items] | ||
| Beginning balance | 97.6 | 95.9 |
| Goodwill, Foreign Currency Translation Gain (Loss) | 2.0 | 1.7 |
| Ending balance | 99.6 | 97.6 |
| Corporate Eliminations And Other Segment | ||
| Goodwill [Line Items] | ||
| Beginning balance | 12.1 | 12.1 |
| Goodwill, Foreign Currency Translation Gain (Loss) | 0.0 | 0.0 |
| Ending balance | $ 12.1 | $ 12.1 |
| Minimum | ||
| Goodwill [Line Items] | ||
| Terminal Value Growth Rate | 2.00% | |
Marketable Securities Held in Trusts (Details) $ in Millions |
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Aug. 31, 2016
USD ($)
|
|---|---|---|---|
| Investments, Debt and Equity Securities [Abstract] | |||
| Amount deposited by Mosaic into the RCRA Trusts | $ 630.0 | ||
| Number Of Decades Remaining For Trust | 3 | ||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | $ 681.1 | $ 678.3 | |
| Gross Unrealized Gains | 15.3 | 0.5 | |
| Gross Unrealized Losses | (12.8) | (28.7) | |
| Total debt securities | 683.6 | 650.1 | |
| Cash And Cash Equivalents | Fair Value Inputs Level 1 | |||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | 1.0 | 7.7 | |
| Gross Unrealized Gains | 0.0 | 0.0 | |
| Gross Unrealized Losses | 0.0 | 0.0 | |
| Total debt securities | 1.0 | 7.7 | |
| Corporate Debt Securities | Fair Value Inputs Level 2 | |||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | 204.6 | 203.8 | |
| Gross Unrealized Gains | 1.9 | 0.1 | |
| Gross Unrealized Losses | (8.4) | (17.1) | |
| Total debt securities | 198.1 | 186.8 | |
| Municipal Bonds | Fair Value Inputs Level 2 | |||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | 206.9 | 197.0 | |
| Gross Unrealized Gains | 1.9 | 0.4 | |
| Gross Unrealized Losses | (4.1) | (8.0) | |
| Total debt securities | 204.7 | 189.4 | |
| U.S. Government Bonds | Fair Value Inputs Level 2 | |||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | 268.6 | 269.6 | |
| Gross Unrealized Gains | 11.5 | 0.0 | |
| Gross Unrealized Losses | (0.3) | (3.6) | |
| Total debt securities | $ 279.8 | 266.0 | |
| Asset-Backed Securities | Fair Value Inputs Level 2 | |||
| Debt Securities, Available-for-sale, Fair Value to Amortized Cost [Abstract] | |||
| Amortized Cost | 0.2 | ||
| Gross Unrealized Gains | 0.0 | ||
| Gross Unrealized Losses | 0.0 | ||
| Total debt securities | $ 0.2 |
Marketable Securities Held in Trusts - Continuous Loss Position (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | $ 74.1 | $ 475.2 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 12.2 | 15.8 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 205.6 | 135.5 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.6 | 12.9 |
| Corporate Debt Securities | ||
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 5.4 | 105.6 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 8.3 | 10.6 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 121.5 | 72.8 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.1 | 6.5 |
| Municipal Bonds | ||
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 42.3 | 104.7 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 3.9 | 5.1 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 84.1 | 61.9 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0.2 | 2.9 |
| U.S. Government Bonds | ||
| Debt Securities, Available-for-sale, Unrealized Loss Position, Accumulated Loss [Abstract] | ||
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months | 26.4 | 264.9 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 0.0 | 0.1 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | 0.0 | 0.8 |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | $ 0.3 | $ 3.5 |
Marketable Securities Held in Trusts - Maturity Dates and Realized Gain and Loss (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Debt Securities, Available-for-sale [Line Items] | |||
| Debt Securities, Available-for-sale, Realized Loss | $ (28.9) | $ (46.9) | $ (3.4) |
| Debt Securities, Available-for-sale, Realized Gain | 9.5 | 0.3 | $ 5.8 |
| Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | |||
| Total debt securities | 683.6 | $ 650.1 | |
| Debt Securities [Member] | |||
| Debt Securities, Available-for-sale, Fair Value, Fiscal Year Maturity [Abstract] | |||
| Due in one year or less | 18.6 | ||
| Due after one year through five years | 243.4 | ||
| Due after five years through ten years | 378.7 | ||
| Due after ten years | 41.9 | ||
| Total debt securities | $ 682.6 | ||
Income Taxes Provision for Taxes (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Current: | |||
| Federal | $ 86.4 | $ 62.7 | $ (12.7) |
| State | 1.5 | 51.9 | 5.6 |
| Non-U.S. | 357.4 | 770.4 | 386.9 |
| Total current | 445.3 | 885.0 | 379.8 |
| Noncurrent: | |||
| Federal | 0.3 | 0.2 | 0.0 |
| Non-U.S. | (3.0) | (0.7) | 110.0 |
| Total noncurrent | (2.7) | (0.5) | 110.0 |
| Deferred: | |||
| Federal | (35.4) | 215.4 | 141.9 |
| State | (4.2) | 31.0 | 21.4 |
| Non-U.S. | (226.0) | 93.4 | (55.4) |
| Total deferred | (265.6) | 339.8 | 107.9 |
| Provision for income taxes | $ 177.0 | $ 1,224.3 | $ 597.7 |
Income Taxes Effective Tax Rate (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Income Tax [Line Items] | ||||
| Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ 121.6 | $ 1,587.8 | $ 900.1 | |
| Income (Loss) from Continuing Operations before Income Taxes, Foreign | 1,204.3 | 3,054.7 | 1,324.7 | |
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | $ 1,325.9 | $ 4,642.5 | $ 2,224.8 | |
| Effective Income Tax Rate Continuing Operations Tax Rate Reconciliation | ||||
| Computed tax at the U.S. federal statutory rate | 21.00% | 21.00% | 21.00% | |
| State and local income taxes, net of federal income tax benefit | 0.40% | 1.10% | 1.20% | |
| Percentage depletion in excess of basis | (4.90%) | (1.80%) | (1.10%) | |
| Impact of non-U.S. earnings | 8.70% | 5.80% | 6.30% | |
| Change in valuation allowance | (1.70%) | 0.00% | (0.30%) | |
| Other items (none in excess of 5% of computed tax) | (1.60%) | 1.30% | 2.20% | |
| Effective tax rate | 13.30% | 26.40% | 26.90% | |
| Effective Income Tax Rate Reconciliation, Amounts | ||||
| Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | $ 29.3 | $ 4.0 | ||
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | $ 1.4 | $ 1.2 | $ (1.2) | |
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Other, Percent | (11.50%) | (2.60%) | (5.70%) | |
| Deferred Tax Assets, Gross [Abstract] | ||||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ (512.0) | $ (135.2) | $ (91.7) | |
| Valuation allowance | 1,421.9 | 909.9 | 774.7 | $ 683.0 |
| Effective Income Tax Rate Reconciliation at Federal Statutory Income Tax Rate, Amount | $ 43.4 | $ 26.2 | $ 0.6 | |
| Effective Income Tax Reconciliation, Nondeductible Expense, Withholding, Percent | 0.063 | 0.016 | 0.033 | |
| Effective Income Tax Rate Reconciliation, Tax Expense (Benefit), Share-Based Payment Arrangement, Amount | $ 12.8 | |||
| Effective Income Tax Reconciliation, Nondeductible Expense, Foreign Tax Credits, Percent | (0.040) | 0 | 0 | |
| Effective Income Tax Reconciliation, Nondeductible Expense, Legislation Impacts, Percent | (0.016) | 0 | 0 | |
| Effective Income Tax Reconciliation, Nondeductible Expense, Undistributed Earnings, Percent | 0.022 | 0 | 0 | |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ 11.6 | |||
| Vale Fertilizantes S.A. | ||||
| Effective Income Tax Rate Reconciliation, Amounts | ||||
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 24.4 | $ 4.8 | ||
| Deferred Tax Assets, Gross [Abstract] | ||||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (12.7) | (13.2) | $ (13.9) | |
| Foreign Tax Authority | ||||
| Effective Income Tax Rate Reconciliation, Amounts | ||||
| Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 20.4 | |||
| Deferred Tax Assets, Gross [Abstract] | ||||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (6.5) | (7.0) | (3.4) | |
| Domestic Tax Authority | ||||
| Effective Income Tax Rate Reconciliation, Amounts | ||||
| Effective Income Tax Rate Reconciliation, Other Reconciling Items, Amount | 38.1 | 29.0 | 23.9 | |
| Esterhazy Mine Closure | ||||
| Effective Income Tax Rate Reconciliation, Amounts | ||||
| Effective Income Tax Rate Reconciliation, Nondeductible Expense, Restructuring Charges, Amount | $ (43.7) | |||
| Foreign Tax Credit Carryforward | ||||
| Deferred Tax Assets, Gross [Abstract] | ||||
| Valuation allowance | 986.1 | |||
| Tax Credit Carryforward, Amount | 1,300.0 | |||
| Anticipatory Foreign Tax Credit Carryforward | ||||
| Deferred Tax Assets, Gross [Abstract] | ||||
| Valuation allowance | $ 220.5 | $ 202.2 | ||
Income Taxes Deferred Tax (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|---|---|---|---|---|
| Deferred Tax Liabilities, Gross [Abstract] | ||||
| Depreciation and amortization | $ 490.2 | $ 430.5 | ||
| Depletion | 623.6 | 613.5 | ||
| Partnership tax basis differences | 69.7 | 59.3 | ||
| Undistributed earnings of non-U.S. subsidiaries | 29.3 | 0.0 | ||
| Other liabilities | 97.0 | 37.6 | ||
| Total deferred tax liabilities | 1,309.8 | 1,140.9 | ||
| Deferred Tax Assets, Gross [Abstract] | ||||
| Capital loss carryforwards | 14.9 | 3.6 | ||
| Foreign tax credit carryforwards | 1,266.2 | 736.7 | ||
| Net operating loss carryforwards | 514.4 | 255.8 | ||
| Pension plans and other benefits | 17.8 | 14.3 | ||
| Asset retirement obligations | 452.1 | 369.4 | ||
| Disallowed interest expense under 163(j) | 11.5 | 0.0 | ||
| Other assets | 468.6 | 413.2 | ||
| Subtotal | 2,745.5 | 1,793.0 | ||
| Net of valuation allowance | ||||
| Valuation allowance | 1,421.9 | 909.9 | $ 774.7 | $ 683.0 |
| Deferred Tax Assets, Net of Valuation Allowance | 1,323.6 | 883.1 | ||
| Deferred Tax Liabilities, Net, Total | (257.8) | |||
| Deferred Tax Liabilities and Assets [Line Items] | ||||
| Deferred Tax Liabilities, Net | 257.8 | |||
| Deferred Tax Assets, Net | 13.8 | |||
| Anticipatory Foreign Tax Credit Carryforward | ||||
| Net of valuation allowance | ||||
| Valuation allowance | 220.5 | 202.2 | ||
| Deferred Tax Liabilities and Assets [Line Items] | ||||
| Deferred Tax Assets Foreign Tax Credits Netted Against Related Deferred Tax Liabilities | $ 220.5 | $ 202.2 |
Income Taxes Carryforwards (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Tax Credit Carryforward [Line Items] | ||||
| Valuation allowance | $ 1,421.9 | $ 909.9 | $ 774.7 | $ 683.0 |
| Undistributed Earnings of Foreign Subsidiaries | 4,300.0 | |||
| Net Operating Loss Carryforward | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Net operating loss | 1,800.0 | |||
| Foreign Tax Credit Carryforward | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Tax Credit Carryforward, Amount | 1,300.0 | |||
| Valuation allowance | 986.1 | |||
| Foreign Tax Credit Carryforward | Tax Year 2026 Or Earlier | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Tax Credit Carryforward, Amount | 219.2 | |||
| Foreign Tax Credit Carryforward | Tax Year 2029 Or Earlier | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Tax Credit Carryforward, Amount | 19.6 | |||
| Foreign Tax Credit Carryforward | Tax Year 2030 Or Earlier | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Tax Credit Carryforward, Amount | 14.7 | |||
| Foreign Tax Credit Carryforward | Tax Year 2033 or Earlier | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Tax Credit Carryforward, Amount | 14.8 | |||
| Capital Loss Carryforward | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Net operating loss | $ 63.6 | |||
| Foreign Tax Authority | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Maximum percentage of annual taxable income allowed to use of the tax credit carryforward | 30.00% | |||
| Foreign Tax Authority | Net Operating Loss Carryforward | ||||
| Tax Credit Carryforward [Line Items] | ||||
| Net operating loss | $ 1,300.0 | |||
| Non-US | ||||
| Tax Credit Carryforward [Line Items] | ||||
| General Business Deferred Tax Assets | $ 4.4 |
Income Taxes Income Tax Valuation Allowance (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Valuation Allowance [Line Items] | |||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 512.0 | $ 135.2 | $ 91.7 |
| Deferred Tax Assets, Valuation Allowance, Net | 1,421.9 | 909.9 | 774.7 |
| Tax Credit Carryforward, Valuation Allowance | 531.0 | 83.6 | 111.2 |
| Foreign Tax Authority | |||
| Valuation Allowance [Line Items] | |||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 6.5 | $ 7.0 | 3.4 |
| Valuation Allowance, Deferred Tax Asset, Explanation of Change | 0.2 million | 46.8 million | |
| United States | |||
| Valuation Allowance [Line Items] | |||
| Operating Loss Carryforwards, Valuation Allowance | $ 1.5 | 2.4 | |
| Vale Fertilizantes S.A. | |||
| Valuation Allowance [Line Items] | |||
| Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 12.7 | $ 13.2 | $ 13.9 |
Income Taxes Uncertain Tax Provisions (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Changes in unrecognized tax benefits for all jurisdictions were as follows: | |||
| Gross unrecognized tax benefits, beginning of period | $ 25.2 | $ 124.6 | $ 36.9 |
| Unrecognized Tax Benefits, Increase Resulting from Prior Period Tax Positions | 0.9 | 0.7 | 84.7 |
| Current year tax positions | 3.0 | 3.0 | 3.0 |
| Prior year tax positions - decreases | (3.8) | (99.7) | 0.0 |
| Unrecognized Tax Benefits, Increase Resulting from Foreign Currency Translation | 0.5 | 0.0 | |
| Unrecognized Tax Benefits, Decrease Resulting from Foreign Currency Translation | (3.4) | ||
| Gross unrecognized tax benefits, end of period | 25.8 | 25.2 | $ 124.6 |
| Income Tax Contingency [Line Items] | |||
| The amount of unrecognized tax benefits that, if recognized, would affect our effective tax rate in future periods | 22.6 | ||
| Accrued interest and penalties related to unrecognized tax benefits, which are reflected in other noncurrent liabilities | 6.4 | $ 5.0 | |
| Non-US | |||
| Income Tax Contingency [Line Items] | |||
| Prior year tax positions - increases | 0.5 | ||
| US and non-US [Domain] | |||
| Income Tax Contingency [Line Items] | |||
| Unrecognized Tax Benefits That Impacted Effective Tax Rate | $ 3.0 | ||
Asset Retirement Obligations (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Asset Retirement Obligation Disclosure [Abstract] | |||
| Asset retirement obligations, beginning of period | $ 1,905.6 | $ 1,749.3 | |
| Liabilities incurred | 22.9 | 14.9 | |
| Liabilities settled | (198.5) | (205.6) | |
| Accretion expense | 96.1 | 81.6 | $ 71.9 |
| Revisions in estimated cash flows | 365.1 | 264.5 | |
| Foreign currency translation | 22.2 | 0.9 | |
| Asset retirement obligations, end of period | 2,213.4 | 1,905.6 | $ 1,749.3 |
| Less current portion | 377.4 | 212.3 | |
| Asset retirement obligations | $ 1,836.0 | $ 1,693.3 | |
Asset Retirement Obligations Contingencies - Gypstack (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|---|---|---|---|
| Loss Contingencies [Line Items] | |||
| Discounted asset retirement obligation | $ 2,213.4 | $ 1,905.6 | $ 1,749.3 |
| Unfavorable Regulatory Action | |||
| Loss Contingencies [Line Items] | |||
| Discounted asset retirement obligation | 1,200.0 | $ 1,000.0 | |
| 2015 Consent Decrees With EPA | Unfavorable Regulatory Action | |||
| Loss Contingencies [Line Items] | |||
| Asset retirement obligations, undiscounted | 2,200.0 | ||
| Discounted asset retirement obligation | $ 819.9 |
Asset Retirement Obligations Other Commitments (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Jul. 27, 2018 |
|---|---|---|---|---|
| Other Commitments [Line Items] | ||||
| Assets held-in-trust, current | $ 2,213.4 | $ 1,905.6 | $ 1,749.3 | |
| Asset retirement obligations | 1,836.0 | 1,693.3 | ||
| Bonnie Facility Trust | ||||
| Other Commitments [Line Items] | ||||
| Asset retirement obligations | $ 21.0 | |||
| Plant City and Bonnie Facilities [Member] | ||||
| Other Commitments [Line Items] | ||||
| Surety Bonds Outstanding Delivered To EPA | 303.1 | |||
| Asset retirement obligations | $ 361.8 | $ 327.5 |
Derivative Instruments and Hedging Activities - Gross Assets and Liabilities Positions (Details) MMBTU in Millions, $ in Millions |
Dec. 31, 2023
USD ($)
MMBTU
|
Dec. 31, 2022
USD ($)
MMBTU
|
|---|---|---|
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||
| Gross asset position | $ 36.4 | $ 38.8 |
| Gross liability position | 17.2 | 50.1 |
| Foreign Exchange Contract | ||
| Derivative | ||
| Derivative, notional amount | $ 2,418.7 | $ 2,361.1 |
| Interest Rate Swap Contract | ||
| Derivative | ||
| Number of Interest Rate Derivatives Held | 0 | 0 |
| Commodity Contract (MMbtu) | ||
| Derivative | ||
| Derivative, nonmonetary notional amount | MMBTU | 17.1 | 14.2 |
Derivative Instruments and Hedging Activities - Credit Risk Related Contingent Features (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Derivative, Credit Risk Related Contingent Features | ||
| The aggregate fair value of all derivative instruments with credit-risk-related contingent features that were in a liability position | $ 15.6 | $ 34.8 |
| Required collateral assets to be posted if the credit-risk contingent features of these underlying agreements were triggered. | $ 8.7 |
Fair Value Measurements (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
|
| Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis | ||
| Gross asset position | $ 36.4 | $ 38.8 |
| Gross liability position | $ 17.2 | 50.1 |
| Fair Value, Measurements, Recurring | Foreign Exchange Contract | ||
| Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis | ||
| Average maturity of foreign currency derivative instruments | 18 months | |
| Gross asset position | $ 36.4 | 20.7 |
| Gross liability position | 8.0 | 49.2 |
| Fair Value, Measurements, Recurring | Commodity Contract | ||
| Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis | ||
| Gross asset position | 0.0 | 18.1 |
| Gross liability position | $ 9.2 | $ 0.9 |
Fair Value Measurements (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Carrying amount | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
| Cash and cash equivalents | $ 348.8 | $ 735.4 |
| Accounts receivable | 1,269.2 | 1,699.9 |
| Accounts payable | 1,166.9 | 1,292.5 |
| Structured accounts payable arrangements | 399.9 | 751.2 |
| Short-term debt | 399.7 | 224.9 |
| Long-term debt, including current portion | 3,361.7 | 3,397.2 |
| Fair value | ||
| Fair Value, Balance Sheet Grouping, Financial Statement Captions | ||
| Cash and cash equivalents | 348.8 | 735.4 |
| Accounts receivable | 1,269.2 | 1,699.9 |
| Accounts payable | 1,166.9 | 1,292.5 |
| Structured accounts payable arrangements | 399.9 | 751.2 |
| Short-term debt | 399.7 | 224.9 |
| Long-term debt, including current portion | $ 3,364.1 | $ 3,276.5 |
Pension Plans and Other Benefits - Changes in Defined Benefit Obligations and Plan Assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Change in projected benefit obligation: | |||
| Benefit obligation at beginning of period | $ 299.5 | ||
| Defined Benefit Plan, Service Cost | 0.1 | $ 0.1 | |
| Projected benefit obligation at end of period | 299.5 | ||
| Change in plan assets: | |||
| Fair value at beginning of period | 345.6 | ||
| Company contribution | 0.1 | 0.2 | |
| Fair value at end of period | 157.1 | 345.6 | |
| Funded status of the plans as of the end of period | 18.6 | ||
| Amounts recognized in the consolidated balance sheets: | |||
| Noncurrent liabilities | (119.7) | (103.3) | |
| Amounts recognized in accumulated other comprehensive (income) loss | |||
| Prior service cost | (13.2) | (14.1) | |
| Accumulated benefit obligation for the defined benefit pension plans | 119.6 | 299.1 | |
| Pension Settlement | $ (42.4) | (41.9) | $ 0.0 |
| Fixed Income Securities | |||
| Amounts recognized in accumulated other comprehensive (income) loss | |||
| Allocation percentage | 75.00% | ||
| Equity Securities | |||
| Amounts recognized in accumulated other comprehensive (income) loss | |||
| Allocation percentage | 20.00% | ||
| Cash | |||
| Amounts recognized in accumulated other comprehensive (income) loss | |||
| Allocation percentage | 5.00% | ||
| North American Pension Plan | |||
| Change in projected benefit obligation: | |||
| Benefit obligation at beginning of period | $ 294.3 | 739.6 | |
| Defined Benefit Plan, Service Cost | 2.8 | 4.2 | |
| Defined Benefit Plan, Interest Cost | 11.1 | 16.8 | |
| Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 3.3 | (158.8) | |
| Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) | 2.0 | (19.0) | |
| Benefits paid and transfers | (190.4) | (322.2) | |
| Defined Benefit Plan, Benefit Obligation, Increase (Decrease) for Plan Amendment | 5.8 | 0.0 | |
| Defined Benefit Plan, Net Periodic Benefit Cost (Credit), Gain (Loss) Due to Settlement and Curtailment | (9.3) | 38.9 | |
| Projected benefit obligation at end of period | 119.6 | 294.3 | 739.6 |
| Change in plan assets: | |||
| Fair value at beginning of period | 329.0 | 807.0 | |
| Currency fluctuations | 2.9 | (21.3) | |
| Actual return | 11.4 | (124.9) | |
| Company contribution | 4.2 | 7.0 | |
| Benefits paid and transfers | (190.4) | (322.2) | |
| Fair value at end of period | 157.1 | 329.0 | $ 807.0 |
| Funded status of the plans as of the end of period | 37.5 | 46.1 | |
| Amounts recognized in the consolidated balance sheets: | |||
| Noncurrent assets | 43.8 | 52.9 | |
| Current liabilities | (0.5) | (0.5) | |
| Noncurrent liabilities | (5.8) | (6.3) | |
| Amounts recognized in accumulated other comprehensive (income) loss | |||
| Prior service cost | 15.1 | 10.9 | |
| Actuarial loss | 20.0 | 67.2 | |
| Pension Settlement | (42.4) | (41.9) | |
| 2020 | 3.9 | ||
| The amount of estimated cash contribution to the defined benefit pension plans needed next fiscal year to meet minimum funding requirements | 0.8 | ||
| North American Pension Plan | North America | |||
| Change in projected benefit obligation: | |||
| Benefit obligation at beginning of period | 5.2 | ||
| Projected benefit obligation at end of period | 0.0 | 5.2 | |
| Change in plan assets: | |||
| Fair value at beginning of period | 16.6 | ||
| Fair value at end of period | $ 18.6 | $ 16.6 | |
Pension Plans and Other Benefits - Defined Contribution Plans (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Defined Benefit Plans and Other Postretirement Benefit Plans Disclosures [Abstract] | |||
| Mosaic's matching rate of first tier of employee's compensation deferrals under the "Investment Plan" | 100.00% | ||
| Maximum rate of first tier of deferred compensation elected by employees under the Company's "Investment Plan" | 3.00% | ||
| Mosaic's matching rate of second tier of employee's compensation deferrals under the "Investment Plan" | 50.00% | ||
| Maximum rate of second tier of deferred compensation elected by employees under the Company's "Investment Plan" | 3.00% | ||
| Expense attributable to the Company's Investment Plan and Savings Plan | $ 61.7 | $ 55.7 | $ 55.8 |
Pension Plans and Other Benefits - Postretirement Medical Benefits (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
| Defined Benefit Plan, Benefit Obligation | $ 299.5 | ||
| Service cost | $ 0.1 | 0.1 | |
| Company contribution | 0.1 | 0.2 | |
| Funded status of the plans as of the end of period | 18.6 | ||
| Liability, Defined Benefit Plan, Noncurrent | (119.7) | (103.3) | |
| Prior service cost | (13.2) | (14.1) | |
| North American Other Postretirement Benefits Plan | |||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
| Defined Benefit Plan, Benefit Obligation | 22.8 | 22.6 | |
| Brazil Other Postretirement Benefit Plans | |||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
| Defined Benefit Plan, Interest Cost | 6.2 | 5.8 | |
| Defined Benefit Plan, Benefit Obligation, Actuarial Gain (Loss) | 4.8 | (7.6) | |
| Defined Benefit Plan, Benefit Obligation, Foreign Currency Translation Gain (Loss) | 5.4 | 3.8 | |
| Defined Benefit Plan, Benefit Obligation, Benefits Paid | (1.2) | (1.0) | |
| Defined Benefit Plan, Benefit Obligation | 74.4 | 59.1 | $ 58.0 |
| Company contribution | 1.2 | 1.0 | |
| Defined Benefit Plan, Plan Assets, Benefits Paid | (1.2) | (1.0) | |
| Funded status of the plans as of the end of period | (74.4) | (59.1) | |
| Liability, Defined Benefit Plan, Current | (1.1) | (1.2) | |
| Liability, Defined Benefit Plan, Noncurrent | (73.3) | (57.9) | |
| Actuarial loss | $ 11.9 | $ 6.6 | |
| Defined Benefit Plan, Assumptions Used Calculating Benefit Obligation, Discount Rate | 10.40% | 10.30% | |
| Minimum | North American Other Postretirement Benefits Plan | |||
| Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items] | |||
| Defined Benefit Plan, Expected Future Employer Contributions, Next Fiscal Year | $ 2.2 | ||
Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Accumulated other comprehensive loss | $ (1,954.9) | $ (2,152.2) | $ (1,891.8) | $ (1,806.2) |
| Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax | 1.4 | 1.5 | 1.5 | |
| Other Comprehensive Income (Loss), Before Tax | 215.5 | (262.9) | (81.2) | |
| Other Comprehensive Income (Loss), Tax | (16.2) | 4.3 | (6.2) | |
| Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax | 23.7 | (24.8) | (17.6) | |
| Other Comprehensive Income (Loss), Net of Tax | 199.3 | (258.6) | (87.4) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | (2.0) | (1.8) | 1.8 | |
| AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Accumulated other comprehensive loss | 0.2 | (23.5) | 1.3 | 18.9 |
| Net Unrealized Holding Gain (Loss) on Marketable Securities Held in Trust, Before Tax | 30.6 | (32.4) | (22.7) | |
| Net Gain (Loss) on Marketable Securities Held in Trust, Tax | (6.9) | 7.6 | 5.1 | |
| Net Gain (Loss) on Marketable Securities Held in Trust, After Reclassification and Tax | 23.7 | (24.8) | (17.6) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0.0 | 0.0 | 0.0 | |
| AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Accumulated other comprehensive loss | 8.1 | 6.7 | 5.2 | 3.7 |
| Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification, Before Tax | 1.8 | 2.0 | 2.0 | |
| Other Comprehensive Income (Loss), Derivative, Excluded Component, Increase (Decrease), after Adjustments, Tax | 0.4 | 0.5 | 0.5 | |
| Net Gain (Loss) on Interest Rate Swaps Qualifying as Hedge, After Reclassification and Tax | 1.4 | 1.5 | 1.5 | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0.0 | 0.0 | 0.0 | |
| Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Accumulated other comprehensive loss | (33.0) | (53.1) | (72.8) | (109.7) |
| Net Actuarial Gain (Loss), After Reclassification, Before Tax | 31.1 | 28.6 | 56.5 | |
| Other Comprehensive Income (Loss), Tax | (11.0) | (8.9) | (19.6) | |
| Net Actuarial Gain (Loss), After Reclassification and Tax | 20.1 | 19.7 | 36.9 | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | 0.0 | 0.0 | 0.0 | |
| Accumulated Foreign Currency Adjustment Attributable to Parent | ||||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
| Accumulated other comprehensive loss | (1,930.2) | (2,082.3) | (1,825.5) | $ (1,719.1) |
| Foreign Currency Translation Gain (Loss), Before Tax | 152.0 | (261.1) | (117.0) | |
| Foreign Currency Translation Adjustment, Tax (Expense) Benefit | 2.1 | 6.1 | 8.8 | |
| Foreign Currency Translation Gain (Loss), Net of Tax | 154.1 | (255.0) | (108.2) | |
| Other Comprehensive Income (Loss), Net of Tax, Portion Attributable to Noncontrolling Interest | $ (2.0) | $ (1.8) | $ 1.8 | |
Share Repurchases (Details) $ / shares in Units, $ in Millions |
1 Months Ended | 12 Months Ended | ||
|---|---|---|---|---|
|
Mar. 31, 2023
shares
|
Dec. 31, 2023
USD ($)
$ / shares
shares
|
Dec. 31, 2022
USD ($)
$ / shares
shares
|
Dec. 31, 2021
USD ($)
|
|
| Equity, Class of Treasury Stock [Line Items] | ||||
| Stock Repurchased During Period, Value | $ 754.4 | $ 1,673.2 | $ 410.9 | |
| Stock Repurchased During Period, Shares | shares | 16,879,059 | 30,810,173 | ||
| Accelerated Share Repurchases, Settlement (Payment) or Receipt | $ 400.0 | |||
| Accelerated Share Repurchases, Adjustment to Recorded Amount | $ 54.2 | |||
| Accelerated Share Repurchases, Final Price Paid Per Share | $ / shares | $ 53.34 | $ 64.37 | ||
| Percent of total shares expected to be delivered | 0.80 | |||
| Treasury Stock, Shares, Acquired | shares | 965,284 | 4,659,290 | ||
| 2014 Mosaic Stock and Incentive Plan | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Number of shares and share options authorized under plan | shares | 25,000,000 | |||
| Share Repurchase Program 2022 | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Stock Repurchase Program, Authorized Amount | $ 3,000.0 | |||
| Stock Repurchased During Period, Value | 748.0 | |||
| Share Repurchase Program 2021 | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Stock Repurchased During Period, Value | $ 1,700.0 | |||
| Accelerated Share Repurchase Agreement | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Stock Repurchased and Retired During Period, Value | 300.0 | |||
| Accelerated Share Repurchases, Settlement (Payment) or Receipt | $ 300.0 | |||
| Accelerated Share Repurchases, Adjustment to Recorded Amount | $ 54.2 | |||
| Stock Repurchased and Retired During Period, Shares | shares | 5,624,574 | |||
| Treasury Stock, Shares, Acquired | shares | 7,056,229 | |||
| Accelerated Share Repurchase Agreement 2023 | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Accelerated Share Repurchases, Settlement (Payment) or Receipt | $ 400.0 | |||
| Treasury Stock, Shares, Acquired | shares | 5,624,574 | |||
| Vale Fertilizantes S.A. | ||||
| Equity, Class of Treasury Stock [Line Items] | ||||
| Stock Repurchased During Period, Shares | shares | 7,056,229 | |||
Share-based Payments (Details) shares in Millions |
Dec. 31, 2023
shares
|
|---|---|
| 2014 Mosaic Stock and Incentive Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Number of shares and share options authorized under plan | 25 |
| Omnibus Stock and Incentive Plan 2004 | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Number of shares and share options authorized under plan | 25 |
| 2023 Stock and Incentive Plan | |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Number of shares and share options authorized under plan | 18 |
Share-based Payments, Stock Options (Details 2) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
Dec. 31, 2020 |
|
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
| The total intrinsic value of options exercised during the fiscal year | (33,000,000.0) | (16,000,000.0) | (3,200,000) | |
| Stock Options | ||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
| Number of years the employee stock options vest in equal annual installments | 3 years | |||
| Assumptions used to calculate the fair value of stock options in each period are noted in the following table. A summary of the assumptions used to estimate the fair value of stock option awards is as follows: | ||||
| Expected volatility (percent) | 35.35% | |||
| Expected dividend yield (percent) | 1.97% | |||
| Expected term (in years) | 7 years | |||
| Risk-free interest rate (percent) | 2.34% | |||
| Shares (in millions) | ||||
| Number of option shares outstanding at beginning of period (in shares) | 600,000 | |||
| Granted (in shares) | 0 | |||
| Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price | $ 0 | |||
| Cancelled (in shares) | 0 | |||
| Number of option shares outstanding at end of period (in shares) | 600,000 | 600,000 | ||
| Number of shares issuable under options exercisable at end of period (in shares) | 600,000 | |||
| Weighted Average Exercise Price | ||||
| Weighted average exercise price- options outstanding at beginning of period (in usd per share) | $ 36.12 | |||
| Granted (in usd per share) | 0 | |||
| Cancelled (in usd per share) | 0 | |||
| Weighted Average Exercise Price- options outstanding at end of period (in usd per share) | 34.46 | $ 36.12 | ||
| Weighted Average Exercise Price- options exercisable at end of period (in usd per share) | $ 34.46 | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Options, Additional Disclosures [Abstract] | ||||
| Weighted Average Remaining Contractual Term (Years) - options outstanding at end of fiscal year | 2 years 1 month 9 days | |||
| Weighted Average Remaining Contractual Term (Years) - options exercisable as of the end of the fiscal year | 2 years 1 month 9 days | |||
| Aggregate Intrinsic Value - options outstanding at end of fiscal year | $ 2.8 | |||
| Aggregate Intrinsic Value - options exercisable as of the end of the fiscal year | $ 2.8 | |||
| The total intrinsic value of options exercised during the fiscal year | 0 | |||
| Stock Options | 2014 Mosaic Stock and Incentive Plan | ||||
| Shares (in millions) | ||||
| Number of option shares outstanding at end of period (in shares) | 534,126 | |||
| Stock Options | Omnibus Stock and Incentive Plan 2004 | ||||
| Shares (in millions) | ||||
| Number of option shares outstanding at end of period (in shares) | 62,090 | |||
Share-based Payments, RSU's (Details 3) - $ / shares |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Shares (in millions) | |||
| Granted (in shares) | 1,206,263 | 540,915 | 717,952 |
| Restricted Stock Units R S U | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
| Shares (in millions) | |||
| Number of stock units outstanding at beginning of period (shares) | 2,200,000 | ||
| Granted (in shares) | 500,000 | ||
| Issued and canceled (shares) | (1,200,000) | ||
| Number of stock units outstanding at end of period (shares) | 1,500,000 | 2,200,000 | |
| Weighted Average Grant Date Fair Value | |||
| Weighted-average grant date fair value per share - stock unit awards outstanding, beginning of period (in usd per share) | $ 27.68 | ||
| Granted (in usd per share) | 49.02 | ||
| Issued and canceled (in usd per share) | 17.73 | ||
| Weighted-average grant date fair value per share - stock unit awards outstanding, end of period (in usd per share) | $ 42.70 | $ 27.68 | |
| Stock Options | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
Share-based Payments, PSU's (Details 4) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Shares (in millions) | |||
| Granted (in shares) | 1,206,263 | 540,915 | 717,952 |
| Weighted Average Grant Date Fair Value | |||
| Share-based compensation expense, net of forfeitures, in the fiscal year | $ 37.8 | $ 61.1 | $ 63.5 |
| The tax benefit related to share-based compensation expense in the fiscal year | 9.0 | 7.5 | 6.5 |
| Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized | $ 17.0 | ||
| The average weighted-average period the unrecognized compensation cost will be recognized (years) | 1 year | ||
| The total fair value of options vested during the fiscal year | $ 0.0 | 0.0 | 0.0 |
| Proceeds from Stock Options Exercised | 0.0 | 16.0 | 0.0 |
| Tax benefit for tax deductions from options during the fiscal year | $ 7.9 | $ 13.4 | $ 14.0 |
| TSR Performance Units | |||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
| Minimum retirement age for performance units to vest | 60 years | ||
| Number Of Trading Days To Calculate Weighted Average Trading Price | 30 days | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 3 years | ||
| Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | ||
| Expected volatility (percent) | 48.33% | 54.77% | 58.26% |
| Expected dividend yield (percent) | 1.52% | 0.81% | 0.68% |
| Expected term (in years) | 3 years | 3 years | 3 years |
| Risk-free interest rate (percent) | 4.52% | 1.68% | 0.32% |
| Shares (in millions) | |||
| Granted (in shares) | 1,206,283 | 540,915 | 717,952 |
| Weighted Average Grant Date Fair Value | |||
| Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) | $ 50.56 | $ 55.08 | $ 27.91 |
| Performance Units Cash Settled | |||
| Shares (in millions) | |||
| Number of stock units outstanding at beginning of period (shares) | 791,624 | ||
| Granted (in shares) | 354,500 | 195,755 | 262,308 |
| Number of stock units outstanding at end of period (shares) | 500,393 | 791,624 | |
| Performance Units | |||
| Shares (in millions) | |||
| Number of stock units outstanding at beginning of period (shares) | 2,600,000 | ||
| Granted (in shares) | 1,200,000 | ||
| Issued and canceled (shares) | (2,500,000) | ||
| Number of stock units outstanding at end of period (shares) | 1,300,000 | 2,600,000 | |
| Weighted Average Grant Date Fair Value | |||
| Weighted-average grant date fair value per share - stock unit awards outstanding, beginning of period (in usd per share) | $ 21.89 | ||
| Weighted Average Grant Date Fair Value Per Share, Granted (in usd per share) | 50.56 | ||
| Issued and canceled (in usd per share) | 13.30 | ||
| Weighted-average grant date fair value per share - stock unit awards outstanding, end of period (in usd per share) | $ 39.86 | $ 21.89 | |
Commitments (Details) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2023
USD ($)
t
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
|
| Long-term Purchase Commitment | |||
| Purchases made under long-term commitments during the reporting period | $ 3,000.0 | $ 4,600.0 | $ 3,100.0 |
| Unrecorded Unconditional Purchase Obligation, Fiscal Year Maturity | |||
| 2020 | 3,002.9 | ||
| 2021 | 618.9 | ||
| 2022 | 289.5 | ||
| 2023 | 84.4 | ||
| 2024 | 41.4 | ||
| Subsequent years | 54.7 | ||
| Total | 4,091.8 | ||
| Purchases made for the fiscal period were as follows: | |||
| Purchases made under long-term commitments during the reporting period | 3,000.0 | $ 4,600.0 | $ 3,100.0 |
| Surety Bonds Outstanding | |||
| Total amount of surety bonds outstanding | 765.9 | ||
| Surety bonds outstanding for mining reclamation obligations | 409.3 | ||
| Surety bonds outstanding for other than mining reclamation obligations | 53.5 | ||
| Plant City and Bonnie Facilities [Member] | |||
| Long-term Purchase Commitment | |||
| Surety Bonds Outstanding Delivered To EPA | 303.1 | ||
| Surety Bonds Outstanding | |||
| Surety Bonds Outstanding Delivered To EPA | $ 303.1 | ||
| Inventories At Price Tied To Natural Gas | |||
| Long-term Purchase Commitment | |||
| Long-term Purchase Commitment, Minimum Quantity Required | t | 545,000 | ||
| Long Term Purchase Commitment Maximum Quantity Required | t | 725,000 | ||
Contingencies (Details) - USD ($) $ in Millions |
Dec. 31, 2023 |
Dec. 31, 2022 |
|---|---|---|
| Applicability, Impact and Conclusion of Environmental Loss Contingencies | ||
| Environmental contingency accrual | $ 203.2 | $ 185.5 |
| Loss Contingencies [Line Items] | ||
| Environmental contingency accrual | $ 203.2 | $ 185.5 |
| Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] | Accrued liabilities | |
| New Wales Phase II East Stack | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | $ 32.3 | |
| Maximum funding of environmental projects | 32.3 | |
| New Wales Phase II West Stack | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 59.4 | |
| Maximum funding of environmental projects | 59.4 | |
| Brazilian subsidiary judicial and administrative proceedings | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 80.6 | |
| Maximum funding of environmental projects | 80.6 | |
| Brazilian subsidiary labor claims | ||
| Loss Contingencies [Line Items] | ||
| Loss Contingency Accrual | 67.0 | |
| Maximum | Brazilian subsidiary judicial and administrative proceedings | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 738.2 | |
| Maximum funding of environmental projects | 738.2 | |
| Maximum | Brazilian Non Income Tax Proceedings | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 608.9 | |
| Maximum funding of environmental projects | 608.9 | |
| Maximum | Brazilian Non Income Tax Proceedings | Indemnification Agreement | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 168.7 | |
| Maximum funding of environmental projects | 168.7 | |
| Maximum | Brazilian Non Income Tax Proceedings | PIS And Cofins cases | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 383.0 | |
| Maximum funding of environmental projects | 383.0 | |
| Maximum | Brazilian subsidiary labor claims | ||
| Loss Contingencies [Line Items] | ||
| Estimated loss contingency | 529.3 | |
| Maximum funding of environmental projects | $ 529.3 |
Related Party (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Related Party Transaction [Line Items] | |||
| Percentage Of Total Production Expected To Market | 25.00% | ||
| Revenues | $ 13,696.1 | $ 19,125.2 | $ 12,357.4 |
| Related Party | |||
| Related Party Transaction [Line Items] | |||
| Other Receivables | 0.8 | 56.8 | |
| Revenues | 1,321.0 | 3,015.3 | 1,120.9 |
| Related Parties Amount in Cost of Sales | 1,465.2 | 3,245.2 | 1,483.8 |
| Equity Method Investee | |||
| Related Party Transaction [Line Items] | |||
| Revenues | $ 17.5 | $ 23.1 | $ 12.2 |
| MWSPC | Equity Method Investee | |||
| Related Party Transaction [Line Items] | |||
| Percentage Of Total Production Expected To Market | 25.00% | ||
Business Segments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Segment Reporting Information [Line Items] | |||
| Net sales | $ 13,696.1 | $ 19,125.2 | $ 12,357.4 |
| Intersegment Sales | 0.0 | 0.0 | 0.0 |
| Revenues | 13,696.1 | 19,125.2 | 12,357.4 |
| Gross margin | 2,210.6 | 5,755.8 | 3,200.3 |
| Canadian resource taxes) | 403.4 | 927.9 | 259.5 |
| Gross margin (excluding Canadian resource taxes) | 2,614.0 | 6,683.7 | 3,459.8 |
| Restructuring and related cost, incurred costs | 0.0 | 0.0 | 158.1 |
| Operating (loss) earnings | 1,338.1 | 4,785.3 | 2,468.5 |
| Capital expenditures | 1,402.4 | 1,247.3 | 1,288.6 |
| Depreciation, depletion and amortization expense | 960.6 | 933.9 | 812.9 |
| Equity in net earnings of nonconsolidated companies | 60.3 | 196.0 | 7.8 |
| Assets | 23,032.8 | 23,386.0 | 22,036.4 |
| Phosphates Segment | |||
| Segment Reporting Information [Line Items] | |||
| Net sales | 3,894.5 | 4,546.4 | 3,889.7 |
| Intersegment Sales | 829.8 | 1,637.8 | 1,033.2 |
| Revenues | 4,724.3 | 6,184.2 | 4,922.9 |
| Gross margin | 702.1 | 1,759.0 | 1,305.4 |
| Canadian resource taxes) | 0.0 | 0.0 | 0.0 |
| Gross margin (excluding Canadian resource taxes) | 702.1 | 1,759.0 | 1,305.4 |
| Restructuring and related cost, incurred costs | 0.0 | ||
| Operating (loss) earnings | 375.7 | 1,347.2 | 1,179.8 |
| Segment, Expenditure, Addition to Long-Lived Assets | 625.9 | 631.8 | 649.9 |
| Depreciation, depletion and amortization expense | 485.7 | 485.1 | 428.7 |
| Equity in net earnings of nonconsolidated companies | 56.4 | 192.4 | 5.4 |
| Assets | 10,295.9 | 9,570.5 | 8,776.4 |
| Potash Segment | |||
| Segment Reporting Information [Line Items] | |||
| Net sales | 3,203.1 | 5,122.8 | 2,587.9 |
| Intersegment Sales | 30.5 | 85.7 | 38.9 |
| Revenues | 3,233.6 | 5,208.5 | 2,626.8 |
| Gross margin | 1,215.0 | 2,843.0 | 1,057.5 |
| Canadian resource taxes) | 403.4 | 927.9 | 259.5 |
| Gross margin (excluding Canadian resource taxes) | 1,618.4 | 3,770.9 | $ 1,317.0 |
| Restructuring, Incurred Cost, Statement of Income or Comprehensive Income [Extensible Enumeration] | Operating (loss) earnings | ||
| Operating (loss) earnings | 1,151.5 | 2,767.7 | $ 836.6 |
| Segment, Expenditure, Addition to Long-Lived Assets | 357.4 | 281.6 | 410.1 |
| Depreciation, depletion and amortization expense | 299.0 | 307.3 | 267.8 |
| Equity in net earnings of nonconsolidated companies | 0.0 | 0.0 | 0.0 |
| Assets | 8,971.9 | 9,582.2 | 8,312.8 |
| Mosaic Fertilizantes | |||
| Segment Reporting Information [Line Items] | |||
| Net sales | 5,684.7 | 8,287.2 | 5,088.5 |
| Intersegment Sales | 0.0 | 0.0 | 0.0 |
| Revenues | 5,684.7 | 8,287.2 | 5,088.5 |
| Gross margin | 211.6 | 1,045.6 | 842.7 |
| Canadian resource taxes) | 0.0 | 0.0 | 0.0 |
| Gross margin (excluding Canadian resource taxes) | 211.6 | 1,045.6 | 842.7 |
| Restructuring and related cost, incurred costs | 0.0 | ||
| Operating (loss) earnings | 74.5 | 910.4 | 745.9 |
| Segment, Expenditure, Addition to Long-Lived Assets | 336.3 | 306.4 | 216.1 |
| Depreciation, depletion and amortization expense | 165.5 | 125.5 | 101.2 |
| Equity in net earnings of nonconsolidated companies | 0.0 | 0.0 | 0.0 |
| Assets | 5,256.3 | 5,562.7 | 4,908.2 |
| Corporate Eliminations And Other Segment | |||
| Segment Reporting Information [Line Items] | |||
| Net sales | 913.8 | 1,168.8 | 791.3 |
| Intersegment Sales | (860.3) | (1,723.5) | (1,072.1) |
| Revenues | 53.5 | (554.7) | (280.8) |
| Gross margin | 81.9 | 108.2 | (5.3) |
| Canadian resource taxes) | 0.0 | 0.0 | 0.0 |
| Gross margin (excluding Canadian resource taxes) | 81.9 | 108.2 | (5.3) |
| Restructuring and related cost, incurred costs | 0.0 | ||
| Operating (loss) earnings | (263.6) | (240.0) | (293.8) |
| Segment, Expenditure, Addition to Long-Lived Assets | 82.8 | 27.5 | 12.5 |
| Depreciation, depletion and amortization expense | 10.4 | 16.0 | 15.2 |
| Equity in net earnings of nonconsolidated companies | 3.9 | 3.6 | 2.4 |
| Assets | (1,491.3) | (1,329.4) | 39.0 |
| Corporate Eliminations And Other Segment | China and India distribution operations | |||
| Segment Reporting Information [Line Items] | |||
| Net sales | 898.9 | 1,100.0 | 730.1 |
| Gross margin | $ (16.8) | $ 130.9 | $ 141.6 |
Disaggregation of Revenue and Long Lived Assets (Details) - USD ($) $ in Millions |
12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | $ 13,696.1 | $ 19,125.2 | $ 12,357.4 | ||||||||
| Long-lived assets | 16,070.0 | 14,960.8 | |||||||||
| Goodwill | 1,138.6 | 1,116.3 | 1,172.2 | ||||||||
| Deferred Income Tax Assets, Net | 1,079.2 | 752.3 | |||||||||
| Phosphate Crop Nutrients | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 3,277.5 | 4,465.0 | 3,552.7 | ||||||||
| Potash Crop Nutrients | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 4,107.7 | 6,484.1 | 3,367.9 | ||||||||
| Crop Nutrient Blends | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 2,107.4 | 2,970.0 | 1,800.0 | ||||||||
| Specialty Products | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [1] | 2,453.3 | 3,025.8 | 1,973.6 | |||||||
| Phosphate Rock | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 125.9 | 125.9 | 75.5 | ||||||||
| Other Product Types | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [2] | $ 1,624.3 | 2,054.4 | 1,587.7 | |||||||
| Brazil | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Canpotex sales volumes by geography, percentage | 35.00% | ||||||||||
| Long-lived assets | $ 2,467.8 | 2,153.5 | |||||||||
| Brazil | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 5,480.9 | 8,045.5 | 5,002.2 | |||||||
| Canpotex | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 1,300.0 | 3,000.0 | 1,100.0 | ||||||||
| Canpotex | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3],[4] | 1,275.7 | 2,961.6 | 1,089.6 | |||||||
| Canada | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Long-lived assets | 4,876.1 | 4,716.2 | |||||||||
| Canada | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | $ 411.6 | 966.0 | 794.9 | |||||||
| India | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Canpotex sales volumes by geography, percentage | 7.00% | ||||||||||
| India | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | $ 350.8 | 512.5 | 340.3 | |||||||
| China | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Canpotex sales volumes by geography, percentage | 12.00% | ||||||||||
| China | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | $ 556.1 | 648.2 | 396.0 | |||||||
| Australia | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 69.0 | 101.6 | 64.8 | |||||||
| Mexico | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 125.5 | 165.5 | 93.6 | |||||||
| Colombia | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 103.2 | 125.9 | 135.1 | |||||||
| Paraguay | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 222.8 | 227.1 | 113.8 | |||||||
| Japan | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 157.7 | 162.0 | 112.4 | |||||||
| Peru | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 77.5 | 70.2 | 40.0 | |||||||
| Argentina | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 75.2 | 224.6 | 101.3 | |||||||
| Honduras | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 30.0 | 31.2 | 22.3 | |||||||
| Thailand | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 8.4 | 6.3 | 18.1 | |||||||
| Other Foreign | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Long-lived assets | 1,521.3 | 1,432.5 | |||||||||
| Other Foreign | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | 55.9 | 100.8 | 73.9 | |||||||
| Total Foreign | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Long-lived assets | 8,865.2 | 8,302.2 | |||||||||
| Total Foreign | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | 9,017.0 | 14,383.1 | 8,428.1 | ||||||||
| United States | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Long-lived assets | 7,204.8 | 6,658.6 | |||||||||
| United States | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | $ 4,679.1 | 4,742.1 | 3,929.3 | |||||||
| Other Countries | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Canpotex sales volumes by geography, percentage | 37.00% | ||||||||||
| Total Geography | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | $ 13,696.1 | 19,125.2 | 12,357.4 | ||||||||
| DOMINICAN REPUBLIC | Transferred at Point in Time | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Net sales | [3] | $ 16.7 | $ 34.1 | $ 29.8 | |||||||
| BANGLADESH | |||||||||||
| Revenues from External Customers and Long-Lived Assets | |||||||||||
| Canpotex sales volumes by geography, percentage | 9.00% | ||||||||||
| |||||||||||
Plant City and Colonsay Closure Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
|
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring and related cost, incurred costs | $ 0.0 | $ 0.0 | $ 158.1 |
| Asset Retirement Obligation Costs | Facility Closing | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring Costs | 37.1 | ||
| Other Current Assets | Facility Closing | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring Costs | 11.1 | ||
| Property, Plant and Equipment | Facility Closing | |||
| Restructuring Cost and Reserve [Line Items] | |||
| Restructuring Costs | $ 109.9 | ||